So, are we going to convince ourselves that we are going to have a depression?
The indicators so far do not so truly designate. Sure, inflation is rampant. But, job growth (more than 370K in June alone) is continuing. Unemployment is at 3.6%. Consumer spending is holding its own. And, the economy grew by 5.7% last year (pre-Russian invasion)- but now it’s contracted by about 2%, due to the war.