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While the big money on Wall Street is preparing for a mild recession, Memphis experts agree, we all should be doing the same. MEMPHIS, Tenn. — Americans are feeling the challenges of inflation as many work to navigate skyrocketing prices at the pump and the grocery store. The financial stretch is even sending many families to food banks to make ends meet. According to a new report from ABC News, Wall Street is betting on a recession sometime within the next 12 to 18 months. While Wall Street is preparing for a mild recession, 901 Economics President Dr. John Gnuschke says we all should be doing the same. "Most people are afraid of inflation. They ought to be afraid of a recession,” said Gnuschke. “The recession is going to impact people more than the price of gas. If you're unemployed, you can't buy gas." This hasn't happened in years. Our country's last recession started in 2007 and lasted until 2009, also known as ‘The Great Recession.’ Accordin...

Some 93% of small business owners are worried that the United States will enter a recession in the next six months, a survey released by Goldman Sachs showed on Wednesday, with a majority of firms saying the country was headed in the wrong direction. In the same survey a year ago, with increased vaccinations promising an end to the COVID-19 pandemic, businesses were more optimistic and 67% said the United States was headed in the right direction. That has reversed in the latest version, 61% of responding firms said the United States was on the wrong track. Some 78% of small business owners said the economy has got worse in the past three months, with only 5% saying it had improved. Over the same period, 84% said hiring challenges had worsened and 80% said inflationary pressures had increased. This quarterly survey is the first time the recession question has appeared. It found that 6% of respondents were not worried at all about a recession, while 1% said they did not know. ...

Speaker 1: (00:00) Prices at the gas pump and the supermarket are bringing home the big headlines about inflation and those headlines have been screaming about the highest inflation rate in 30 years, a 6.2% jump in the consumer price index and price hikes are even higher on individual items like gas, groceries, and automobiles. The truth is right now, many Americans have more buying power than there are goods to buy. So inflation, the question is, did bad policies create that situation? And can it be turned around any time soon? Johnny is Alan gin, economics professor at the university of San Diego and professor gin. Welcome to the program. Thanks for having me. Where are San Diego and seeing the biggest consumer price increases Speaker 2: (00:48) Food at home is up, uh, nationally, uh, over 5%. Um, if, if you're looking at the individual components of that index in particular, what I would call the proteins have been up considerably. So in the category, meat, poultry, fi...