Economists and analysts are turning to increasingly outlandish metaphors to help translate their thoughts. Here are some of the most interesting descriptors used recently and what they mean.
By Nicole Goodkind, CNN Understanding the economy is a complicated task, and even the experts are struggling to answer seemingly simple questions like"Are we on the brink of a recession?" or"Why isn't inflation falling faster?"It's a communications tactic that some Federal Reserve officials have long favored.
The toons were fun sources of entertainment in our salad years, but former Treasury Secretary Larry Summers says they now double as a case study for the Fed and the economy. While describing why the Fed can't end its rate hike regimen when inflation shows signs of showing, Summers has compared higher interest rates to medicine for a country sick with high inflation. The entire dose must be taken for the treatment to fully work, he says.
Listen now and subscribe: Apple Podcasts | Google Podcasts | Spotify | Stitcher | RSS Feed | Omny Studio Clients"facing the fog of uncertainty in financial markets, economic growth and geopolitics," should"avoid unnecessary lane changes," and"allow extra time to reach your destination," advised Goldman Sachs analysts earlier this year.
During that waiting period, an eager consumer may think the drugs aren't working and eat more before the effects of the first dose even set in. They then inevitably find themselves way too stoned and feeling not-so-great.Storm chasingJPMorgan Chase CEO Jamie Dimon should receive an honorary degree in meteorology for his recessionary weather predictions.
By January, his forecast was simply"storm clouds," adding that he probably should never have used the term"hurricane."
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