, Columnist
Welcome to Our Be-Careful-What-You-Wish-For Economy
Just six months ago, economists were arguing urgently that the US needed to slow growth and deflate an eruption of market bubbles. So it’s all going to plan, right?
You asked for it.
Photographer: Al Drago/Bloomberg
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So here we are: When investors aren't worried about inflation, they're worrying about recession. Tech companies are announcing hiring freezes and job cuts in growing numbers. Homebuilders are starting to talk about slowing demand and the supply of existing homes is rising. Walmart reported this week that it has excess inventories.
Isn't this exactly what we wanted?