Ep 377: Economy News And What It Means For You With Catherine Rampell

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Business

4.7 • 1.5K Ratings

🗓️ 28 June 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

We are just about 6 months into 2023, and so far it’s been a confusing year for the economy…to say the least. The unemployment rate is low, the job market is strong, and yet it seems like we hear about a new round of mass layoffs every week. All of this is a lot to keep up with, and if you’re confused about what it all means, how you should feel about it, and what you should do with your money, you are not alone. On today’s episode, we take a step back and look at the big picture of what’s happened so far with the economy this year and what could happen next with journalist Catherine Rampell. In Mailbag, we answer questions about paying income taxes when you move and tips for negotiating a settlement and spousal support when life feels unpredictable. In our money tip of the week: Is 2023 the right year to buy a home? The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation, and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Thanks to our other sponsor for this episode, Athletic Greens. Go to athleticgreens.com/hermoney to get a free 1-year supply of immune-supporting Vitamin D and 5 free travel packs with your first purchase. Thank you to our other sponsor for this show, Monarch Money, a more modern way for women and couples to manage their finances. Monarch will help you monitor all of your accounts, transactions, and investments in one place — and help you collaborate with a partner on your terms. As a HerMoney Podcast listener, you’ll receive 10% off your annual plan when you use the code HERMONEY at sign-up. Head to monarchmoney.com/hermoney to try Monarch today. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to an AirWave Media Podcast.
0:04.0	Hi, everyone. I'm Karen Finerman.
0:09.0	You may know me best from CNBC and I can't wait for you to join me for my new podcast, How She Doesn't.
0:15.0	We dive into all things women, money, and power.
0:19.0	And our dynamic guests explore their journey to the top.
0:22.0	Join How She Doesn't wherever you get your podcasts and learn more at Hermoney.com.
0:31.0	The fact that we have not seen as far as I can discern those scarring effects
0:39.0	and that women seem to have despite all of the exhaustion and burnout and stress and grief
0:44.0	that working women among others have experienced these past few years,
0:48.0	they seem to have emerged collectively stronger than ever.
0:52.0	And I think that is worth celebrating.
1:00.0	Hey, everyone, I'm Jean Chatsky. Thanks so much for joining me today on Hermoney.
1:04.0	So we are just about six months into 2023.
1:08.0	And so far, it has just been a confusing year for the economy to say the least.
1:14.0	The unemployment rate is low, the job market is strong, and yet it seems like we hear about a new round of mass layoffs every couple of weeks.
1:24.0	Inflation has cooled off this year. That's good news.
1:28.0	But we're still well above the Fed's target inflation rate of 2%, which has led the Fed to raise interest rates 10 consecutive times.
1:37.0	And then there's the ever-looming R word or recession, which we've been talking about on this show as far back as last June.
1:47.0	And yet so far, it hasn't materialized. And a few leading economists recently told CNN that although they believe we may see a recession eventually, by the way, we always see a recession eventually.
2:00.0	These things are cyclical. It's not going to happen in 2023.
2:05.0	We have also lived through the failure of three major banks holding a total of 532 billion in assets, as well as a debt limit crisis that threatened to collapse the US economy.
2:20.0	Very fortunately, that was avoided in the final hour. All of this is just a lot.
	...

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