PEORIA MAGAZINE March 2022

W elcome to Peoria Magazine’s Econ Corner, a recurring feature in which we pose questions to experts about various economic issues and how they affect our lives and careers here in central Illinois. This month’s participant is Dr. Joshua Lewer, Chairman of the Department of Economics and McCord Professor of Executive Management Development at Bradley University. PM: The economic headlines can sometimes be confusing for the average reader. On the one hand, the nation’s economy reportedly is growing at the fastest pace in nearly 40 years. Job creation is up, with some 467,000 positions added in January. Wages are rising at a rate not seen since 2002. On the flip side, inflation is climbing at a clip not witnessed since Ronald Reagan was in his first term, the national debt just surpassed $30 trillion, the stock market has been on a roller coaster – mostly downward of late – and higher interest rates on borrowing seem to be looming. Many Americans tend to view issues through a partisan lens these days, and the economy is no exception. Can you help us clarify matters? On balance, are most of us doing better, or worse? JL: The U.S. economy continues to improve from the shortest recession on record that officially lasted two months and ended in April 2020. Since the shutdown, we have no doubt seen an uneven economy. So, are we in the aggregate doing better or worse? That’s a multifaceted question because it really

ECON CORNER

An interview with Dr. Joshua Lewer

INTERVIEW BY MIKE BAILEY

58 MARCH 2022 PEORIA MAGAZINE