U.S._ Steve Forbes to Newsmax: 'We Are in a Recession Now'

NEWSMAX

Steve Forbes to Newsmax: 'We Are in a Recession Now'

(Newsmax/"Rob Schmitt Tonight")

By Sandy Fitzgerald | Saturday, 18 June 2022 02:23 PM


The United States may not be in an official recession yet, according to the federal government, but the nation is "in a recession now," and tens of millions of American families already believe the worst is already happening because prices are going up higher than their incomes, and their savings are being rapidly depleted, Steve Forbes, editor-in-chief of Forbes Media, told Newsmax.

"We're in a big mess, and we're going to be already over the cliff on the economy," Forbes said on Newsmax's "Rob Schmitt Tonight" Friday. "Unfortunately, the Federal Reserve believes that the only way to control inflation is by crushing demand; i.e., creating more unemployment, making people poor.

"Let's be blunt about it. When they talk about a soft landing or trying to slow the economy down, that means making people poor. There is a better way that has done it in the past, and that is to stabilize the value of the dollar. But instead, they're going to punish the American economy."

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READ MORE: https://www.newsmax.com/newsmax-tv/steve-forbes-recession-economy-federal-reserve/2022/06/18/id/1075025/

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