No one knows the future direction of the American economy, but several danger signs are ahead. One is continued inflation at 40-year highs or worse — a cruel hidden tax that eats away wages and savings, with more suffering for families struggling to afford groceries and gasoline. Another is a recession triggered by high interest rates designed to fight inflation. This means job losses, lower incomes, smaller nest eggs as stock markets contract, and even tougher times for businesses reeling from supply-chain shortages.
Read the full story here.