You know what we need right now?

A little macroeconomic analysis.

That's what we need right now.

From American public media.

This is Marketplace.

In Los Angeles, I'm not going to be in Los Angeles, I'm Kyle Rizzdahl.

It is Wednesday.

Today, this one is the 8th of April.

Good as always to have you along, everybody.

Well, here we are, the day after.

A moment, despite all of the continuing unknowns of both the known and unknown variety,

to perhaps take stock of where things stand.

To do that, we've gotten Muhammad Al-Aryan on the phone.

He's a professor at the Wharton School at the University of Pennsylvania,

also the chief economic advisor at Alianz.

Professor L. Arian, welcome back to the program, sir.

Thanks for having me on.

The answer to this question will obviously be different than it would have been yesterday at this time. But I wonder, given the events of the day, the week, the month, your short-term, medium-term

thoughts on the global economy.

Wow, that's a really difficult question because there's so much uncertainty about the war.

But let me think in terms of the four phases, and we are now, the U.S. in phase two and

phase three elsewhere. While we started the year well, we got a massive shock in the shape of the war.

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