Are we in a recession? A former chief economist at the U.S. Department of Labor and a former chair of the White House Council of Economic Advisers weigh in.
Because of the Covid pandemic, 2020 was an epoch-changing year. Much like the 9/11 terrorist attacks in 2001, the full effects won't be understood for years.
The economy has shifted so abruptly in 2022 that most of the big employment trends from the Covid era have reversed, creating major challenges for employers.
Job openings plunged in June to their lowest level since September 2021 in a potential sign that a historically tight labor market is starting to loosen.
Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, told CBS' "Face the Nation" that inflation poses a larger threat than a potential recession.