High inflation has consumers pulling back on spending. Are we headed for a recession?

Published July 11, 2022 at 4:01 AM EDT

FILE - A trader works on the floor at the New York Stock Exchange in New York, Thursday, May 19, 2022. This year's sell-off for Wall Street means stocks no longer look to be in a dangerously overvalued bubble, as some critics had warned. Prices have retreated toward historical norms, when measured against corporate profits. Analysts have so far been maintaining their expectations for corporate profits going forward. (AP Photo/Seth Wenig, File) — A trader works on the floor at the New York Stock Exchange in New York, Thursday, May 19, 2022.

Inflation is running at a 40-year high. Consumers are pulling back on spending. The Fed has raised interest rates. Does this mean we are headed for a recession? Or are there other, more encouraging signs in the economy? And if we are headed for a downturn, how should you prepare your financial portfolio?

Joining Cincinnati Edition to discuss the state of the economy are University of Cincinnati Lindner College of Business Department of Economics Assistant Professor Asawari Deshmukh; Miami University Farmer School of Business Assistant Professor of Economics Nam Vu, Ph.D.; and Wells Fargo Advisors Senior Vice President and Investment Officer Chris DeSimio.

The University of Cincinnati Lindner College of Business is a financial supporter of Cincinnati Public Radio.

Listeners are reminded that the information provided on the show is general in nature and may not apply to your personal investment situation.

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