Given the pandemic distortions to our collective sense of time, 2019 can feel like either a decade ago or a month ago. Either way, the labor market is showing shades of 2019.
Relatedly, job creation has been faster this year, with an average of 345,000 a month versus 163,000 a month in 2019. One is that high inflation persists, which would depress American buying power and lead to yet more Fed tightening, with all the future pain that would entail.
Not quite. The economy has entered recession already and Republicans are going to make it worse by dragging out debt ceiling instead of raising it.
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