decline. paul: but the contradiction, kevin, you ve said the fiscal policy s still stimulative, okay, and monetary policy s still negative real interest rates. how can you have an inflation how can you have a recession if you still have that much monetary and and fiscal stimulus? yeah, well, what s going on is that there s less stimulus than there was before. i suppose there s that. but really what s happened is inflation has run so far ahead of wages a that it s the impossible for income to keep up. and so real incomes are absolutely declining sharkly right now, and verge sharply right now, and eventually that turns into production decline as well, and i think that s what s happening, sadly, right now. and, you know, this is not the team i want to have thinking about how to get us out of a recession. paul: well, that means, i mean, the feds are saying they re going to go up to 3% interest rates from zero near zero, are they going to be able to sustain that in recession? briefl
Paul-gigot
Inflation
Monetary-policy
Recession
Fiscal-policy
Interest-rates
Contradiction
Decline
Kevin-hassett
Wages
Income
Incomes