4 reasons the economy looks like it's crumbling — and what to do about it
New York (CNN Business)The American economy is super weird right now.
Pretty much anyone who wants a job can have one. The economy is so hot that prices are surging faster than at any point since the 1980s. The housing market is on fire. Consumers are spending like crazy.
The truth is that we're probably not in recession now (although it's possible), but there are plenty of signs that one is around the corner.
Sign 1. The Fed is hiking rates
Inflation has been rampant, and the Federal Reserve's tool to fight surging prices lies in its ability to set interest rates higher. That makes borrowing more expensive and slows the economy down — on purpose.
The problem is the Fed was super-duper late to raising rates. Inflation was a …
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