North Central College in the News
North Central College economic professors featured on WGN-TV in two separate segments
Jun 29, 2022
Patrick Gray and Ryan Decker examine the latest job reports and provide viewers with economic update as recession becomes more realistic within the next year
The writing is on the wall, and most U.S. economists agree that the U.S. is in store for a recession next year. Year-over-year U.S. consumer price increases unexpectedly surged last month to 8.6%. That means that the Federal Reserve’s efforts to slow down the economy over the past few months through two different interest rate hikes have yet to bear a measurable effect on inflation.
With more experts sounding the alarm over inflation, and the Fed gearing up for even more aggressive action, economists are becoming increasingly convinced that the economy will come to a grinding halt and begin contracting soon.
Both Patrick Gray, adjunct assistant professor of finance at North Central College, and Ryan Decker, assistant professor of economics and chair of the Center for Financial Literacy at North Central College, interviewed with WGN-TV to provide an economic update.