Over 140 CEOs sent President Joe Biden and Congressional leaders an open letter on the potential major devastation the economy could face if a debt ceiling agreement isn't reached. Josh Silverman, CEO of Etsy, spoke with Cheddar News to explain his reasoning why he joined in on the letter.
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Layoffs are piling up, raising worker anxiety
It's a tough time for the job market. Amid wider economic uncertainty, some analysts have said that businesses are at a “no-hire, no fire” standstill. At the same time, some sizeable layoffs have continued to pile up — raising worker anxieties across sectors. Some companies have pointed to rising operational costs due to U.S.'s new tariffs, while others have redirected money to artificial intelligence investments. Workers in the public sector have also been hit hard. Federal jobs were cut by the thousands earlier this year. And many workers are now going without pay as the U.S. government shutdown has now dragged on for more than a month.
Big Business This Week: “Probably about a 45% chance of recession.”
With prices up, trade down, and only 32% of Americans feeling confident about the economy, what comes next?
