Jared Bernstein: Every Economist ‘Who Isn’t Paid to Believe Otherwise’ Thinks There Will Be a Recession

EXCERPT:

BERNSTEIN: “I think every economist I've spoken to, basically who isn't paid to believe otherwise, believes that -- and it's intimately related to what we were just talking about, I have heard business folks say, I was planning to build a new warehouse to expand, now I'm sitting on my hands. I have heard businesses say, my main import, my supply chain is completely dependent on China and a 145 percent tariff is confiscatory. That shuts down my supply. I don't know what to do. I could start laying people off. We haven't seen layoffs yet, by the way, but that is very much an increasingly potential scenario.”