With interest rates and prices rising and GDP declining, many Americans want to know: Are we are in a recession, and should we be worried? Andy calls on expert economist Justin Wolfers to explain why the economy may not be as bad as it feels, what the Fed is doing to pump the brakes, and when we might see price increases come under control. Then Justin unpacks the economic elements in the Inflation Reduction Act and predicts whether it will live up to its name and help lower prices.

Keep up with Andy on Twitter @ASlavitt.

Follow Justin Wolfers on @JustinWolfers

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Check out these resources from today’s episode: 

• Read more about Wolfer’s thoughts on how high inflation helps homeowners
• Wolfer’s is also quoted in this NYT piece on why high unemployment makes people more unhappy than high inflation 
• Find vaccines, masks, testing, treatments, and other resources in your community: https://www.covid.gov/
• Order Andy’s book, “Preventable: The Inside Story of How Leadership Failures, Politics, and Selfishness Doomed the U.S. Coronavirus Response”: https://us.macmillan.com/books/9781250770165 

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For additional resources, information, and a transcript of the episode, visit lemonadamedia.com/show/inthebubble.