Any mention of the ‘R’ word can trigger anxiety. But not all definitions of recession are the same, and not being in one doesn’t necessarily mean people aren’t feeling economic pain.
Why is it that seemingly unrelated assets, such as stocks and crypto, seemed to crash at the same time? And what does it mean for investors’ efforts to diversify their risk?
We should be cautious about the risk of a recession in the US, but we aren’t guaranteed one. At any rate, Australia’s own fortunes are much more tied to the Chinese economy and commodity markets.
Growth has been elusive for UK governments for decades, and with Brexit challenges now part of the mix, Labour will have its work cut out to deliver on its pledges.
From an economic development perspective, the highly skewed nature of AI activity in the US is likely to create large pools of high-skilled workers in some regions while leaving other regions behind.
The US economy relies on immigrants to fill jobs, but many of them are struggling with high rent burdens that make it harder to build productive lives and integrate into their communities.
Principal Research Fellow, Melbourne Institute of Applied Economic and Social Research, and Professor of Economics, Department of Economics, The University of Melbourne