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Evaluating the state of the US economy as Fed considers interest rate hike this week

WASHINGTON, DC - JUNE 17:  Federal Reserve Bank Chair Janet Yellen holds a news conference following a meeting of the Federal Open Market Committee at the Fed June 17, 2015 in Washington, DC. The FOMC, the policy-making arm of the Federal Reserve, decided to hold interest rates at zero and gave no information about when it might raise rates for the first time in nine years.  (Photo by Chip Somodevilla/Getty Images)
Chip Somodevilla/Getty Images
Federal Reserve Bank Chair Janet Yellen holds a news conference following a meeting of the Federal Open Market Committee at the Fed June 17, 2015 in Washington, DC

On Thursday, the Fed will decide whether to raise interest rates, which is often seen as an economic harbinger for what the state of the economy looks like.

On Thursday, the Fed will decide whether to raise interest rates, which is often seen as an economic harbinger for what the state of the economy looks like.

Ahead of this, AirTalk takes a look at the current state of the U.S. economy, how it got to where it is, what lies ahead in the remainder of 2015, and whether HSBC Bank researchers were right in their recent research note, when they suggested that the world economy is “like an ocean liner without lifeboats” and that the U.S. may not be prepared to handle another economic downturn when it happens.

Guests:

Lisa Cook, Ph.D., associate professor of economics and international relations at Michigan State University

Josh Bivens, research and policy director at the Economic Policy Institute, a nonpartisan think tank in Washington, D.C.

Jeffrey Miron, Ph.D., senior lecturer on economics and director of undergraduate studies at Harvard University and a senior fellow at the Cato Institute

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