North Central College in the News
North Central College economic professor interviewed on WGN-TV
Aug 26, 2022
Dr. Ryan Decker provided an update on the state of the economy
As interest rates continue to rise and the Federal Reserve works to slow the rising rate of inflation, it appears consumers are likely going to be paying more to borrow money. Dr. Ryan Decker, professor of economics at North Central College interviewed with WGN-TV, where he provided an update on the state of the economy. Consumers are questioning whether the state of the economy is already in a recession based on recent activities.
“Consumer spending in the labor market is usually an indicator of a recession, but the labor market is still really strong,” said Decker. “The Fed Chairman Jerome Powell indicated that the labor market is the main factor that’s keeping us out of an official recession. But again, we won’t really know we are in a recession until after it’s happened, and we have reached the point of no return.”