Economy Shrinks for Second Quarter, Raising Recession Fears

The U.S. economy shrunk for a second quarter putting us on a path closer to a recession.  GDP fell at a rate of 0.9% after a 1.6% decline in the first quarter.  Most of the dip was driven by slower consumer spending and drops in business and residential investment.  Reade Pickert, economy reporter at Bloomberg News, joins us for how we will still need official news from the National Bureau of Economic Research to determine if the recession is here.

Next, as interest rates are rising, companies are calling workers back to the office, and home prices expected to fall, Zoomtowns that drew in remote workers during the pandemic are showing that the housing market is cooling fast.  Boise, Idaho in particular is emblematic of this with its housing market currently overvalued by 69%.  Nicole Friedman, U.S. housing reporter at the WSJ, joins us for what to know as more houses are sitting on the market longer.

Finally, the new battleground for fast-food restaurants is chicken nuggets.  KFC will be testing new nuggets that could replace their popcorn chicken and Boston Market has rolled out their first nuggets that are roasted and not fried.  The industry is looking to boost profits by targeting younger Gen Z customers who love their chicky nuggies.  Jennifer Kingson, chief correspondent at Axios, joins us for the nugget wars.

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