Forbes Helping Inhofe's Campaign
Steve Forbes of Forbes Magazine is helping Senator Jim Inhofe's re-election campaign. Forbes joined Inhofe on Wednesday at the Tulsa Metro Chamber of Commerce to talk about the economy.
Forbes said one of the best indicators of a recession is the number of people filing for unemployment. And, Forbes says those numbers don't point to a recession. He says the way the Federal Reserve is handling the situation is causing some of the problems and that the uncertainty of interest rates is creating fears.
"Doesn't mean the Fed has to raise interest rates, if they just withdrew some of the excess money they created, mop some of that up, interest rates would take care of themselves," said Forbes.
Forbes says if you want to know how the economy's doing, keep an eye on gold prices. He says it's one of the best indicators.