Forecasters are bringing this thought into question among rising interest rates and inflation, but Michael Pakko, an economist out of the University of Arkansas at Little Rock say it’s not something to worry about.
While high inflation and high-interest rates may seem like a recipe for a recession, Pakko said it’s premature.
“I think that the statistics that have been leading some people to have a dire outlook for the near future don’t really have the weight that convinces me that it’s a real danger,” he said referring to the GDP reported loss of 1.4%.
These numbers are, however, heavily impacted by Americans buying more foreign products after the supply chain breakdowns of the past few years.
Another thing that’s on our side is unemployment rates, both nationally and here in Arkansas, which is below 4%.
Read the full article from THV11 here.