The recession that’s always six months away
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Federal Reserve Chair Jerome Powell took a trip to Capitol Hill this week to testify about the health of the U.S. economy. We’ll get into the TL;DR of Powell’s testimony and why he doesn’t foresee a recession around the corner. And, we’ll talk about how political campaigns are spending on advertising these days. Plus, the latest regional banking woes and what rapidly advancing deepfakes could do to this year’s elections.

Here’s everything we talked about today:

• “Key takeaways from Fed Chair Powell’s testimony on Capitol Hill”) from CNN Business

• “What’s new in campaign ads? Asking for money to buy more ads and run them absolutely everywhere”) from Marketplace

• “NYCB fallout has longer-term ramifications for regionals now, says Ritholtz’s Josh Brown”) from CNBC

• “Steven Mnuchin Backs New York Community Bank in $1 Billion Deal”) from The New York Times

• “Deepfakes and the 2024 election season”) from Marketplace

Get ready for Economics on Tap and subscribe) to our newsletter to get a copy of our new cocktails zine. The YouTube livestream) starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.