March 21, 2024
America has a ‘trapped in place’ economy
While economic news has been better on a macro level in recent months, on an individual level there is a sense of stasis. Inflation is falling, but prices remain high, interest rates are elevated, and the labor market has cooled off. Joanne Hsu says, “If you are trying to move, buy a car, whatnot, then you have all these bad buying conditions on top of everyday high prices, so it’s a double whammy.”