Read the assigned Forbes article and summarize in at least 100 words.
This article by Bill Conerly explains the different type of recession that we may be seeing and how the United States can prepare for it for businesses and for the consumers. He explains about the argument for a shorter time lag which means sooner session and how the federal policy plans to tighten the advance of the actual actions. He also talks about the lag coming from the global economy in which countries are tightening as well. He talks about expecting a longer lag time before the monetary policy triggers for session because of the demand for labor relative to the number of unemployed people because companies are rehiring and their first position is to cut the open positions instead of laying off the working class people. We also see that the decline in demand lowers income of people and the decline in housing has not affected consumer spending. He explains the recession is very likely in the future and talks about the ways that may be avoided but would not be smart for the United States economy. Bill Conerly suggests that later recession is more likely and we’ll be getting in late 2023 to early 2024.
Reflect on what we learned in the course, find at least one chapter in the textbook where we discuss the related topic, and explain how the chapter(s) is related to the reported event in the article. Do this in at least 100 words.
Looking at the final paragraph of the Forbes article, Conerly puts out the steps to prepare for a recession. I related this to chapter 5 in the Businomics textbook, which is titled Planning for a Downturn: Vulnerability and Flexibility. I related the article and the textbook because chapter 5 goes into the steps that Conerly does as well, chapter 5 talks about a contingency plan which is the first point that Conerly suggest in the final paragraph on the Forbes article. Both the article and the textbook complement each other well and are two good sources that go hand-in-hand when talking about the steps in preparing for a recession.