Understanding the State of the Economy

Join us as we explore the current state of the economy with our esteemed guest, Dr. Riyad Abubaker, an expert in macroeconomics, monetary policy, and international trade. In this episode,we discuss the uncertainty surrounding the economy, with a 50-50 standstill and a 59% chance of a recession in the next 12 months. Hear our analysis of current data and statistics, and howrecent events like the Russian-Ukraine war and the COVID-19 pandemic have impacted theeconomy.Listen in as we examine the increasing oil prices due to the Ukraine war, which spiked prices at the pump to $7 plus per gallon. We also discuss the Biden administration's response to the war,increasing oil output, and its impact on the US economy. We touch on the domestic energy policy and the need for more accountability and investigations to ensure gas prices reflect themarket.Finally, Dr. Riyad Abubaker sheds light on the challenges faced by first-time home buyers in light of high-interest rates and increased housing prices. We also consider the implications of anincrease in interest rates on other areas of the economy, such as credit card bills and student loans. Tune in to learn more about finding balance in a high-inflation economy and the impactof inflation on wages and purchasing power.