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Inflation remains elevated. Bank failures still spook investors. Layoffs – limited to tech giants, so far – cast a wide shadow. Economic uncertainty is high. Whether or not the U.S. economy will enter into a recession hangs in the balance.
Against this economic backdrop, politics is pushing the U.S. to the brink. The latest debt ceiling brinkmanship is just the latest – and most dangerous – example of a toxic polarization doom loop spilling over into the economy.
Before touching on how the debt ceiling drama could affect the economy, and specifically the labor market, it’s worth taking a look at one