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With the war in Iran creating major economic uncertainty, some economists are forecasting that a recession could arrive this year. The economy had already been showing signs of weakness, including layoffs in Big Tech and enduring inflation concerns, and now surging oil prices are rocking U.S. markets. How bad might an economic downturn be in 2026? And are we prepared for a recession?

Guests:

Talmon Joseph Smith, economics reporter, The New York Times

Claudia Sahm, chief economist, New Century Advisors; her Substack is "Stay-at-Home Macro"

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