By Allison Morrow, CNN Business
Cardi B is asking the million-dollar question (Or the 20-trillion-dollar question, more precisely).
“When y’all think they going to announce that we going into a recession?” the rapper tweeted this week.
We wish we knew the answer, Cardi. After all, recession forecasting has become the national pastime of economists, market analysts, politicians and pundits around the world.
That’s because prices on just about everything are still surging, stocks are falling, Russia’s war in Ukraine and Covid-19 scares are continuing to upend global trade. All around, the mood is kind of crummy — consumer sentiment hit a record low last month.
That sour mood is almost entirely thanks to inflation, especially as gas and food prices continue their upward march into the summer travel season. Take away the price surges, and the economy is objectively in pretty good shape.