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Cardi B is gloomy about the economy, too: ‘When y’all think they going to announ...

 1 year ago
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Cardi B is gloomy about the economy, too: ‘When y’all think they going to announce that we going into a recession?’

Colin Lodewick
Tue, June 7, 2022, 2:15 AM·3 min read
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Expert economists and titans of industry are holding their breath about the future of the U.S. economy, wondering whether a crashing stock market and runaway inflation woes will transform into a wider recession.

Now Cardi B is wading into the mix as well.

“When y’all think they going to announce that we going into a recession?” tweeted Cardi B on Sunday.

Although she is famous for her chart-topping singles and collaborations, this is far from the Grammy-winning artist’s first foray into sociopolitical discourse. Leading up to the 2020 election, she interviewed now President Joe Biden for Elle, and then candidate Bernie Sanders as part of his official campaign. In January, her tweets about the death of a Connecticut woman helped launch a formal criminal investigation.

Fortune reached out to Cardi B through Warner Music Group, but did not receive a comment.

A recession is often defined by two consecutive quarters of negative economic growth. The U.S. has currently experienced one such quarter, but is still waiting for official numbers on the second quarter.

A convergence of factors have led to the current moment of economic uncertainty: record-high inflation, the war in Ukraine, and persistent supply-chain problems as a result of the pandemic. The Fed has attempted to rein in inflation by instituting two hikes on its baseline interest rate, first in March and again in May. In doing so, it’s trying to navigate to a “soft landing” to inflation, in which the U.S. ultimately skirts a recession while getting inflation under control.

Cardi isn’t the only person wondering whether those efforts will be successful. More than 80% of Americans believe the U.S. will fall into a recession, according to an April CNBC survey. And consumer sentiment fell nearly 30% over the last year, according to a report from the University of Michigan released in May.

Experts say that consumers’ general sentiment about the economy can even contribute to what eventually happens to it. “Persistently negative views of the economy may come to dominate personal factors in influencing consumer behavior in the future,” wrote economist and survey director Joanne Hsu in a statement accompanying the report.


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