Recently, the U.S. has experienced several financial crises - all of them hard on American families. In 2008, over eight million Americans lost their jobs in the Great Recession. In 2020, unemployment was at 13 percent thanks to the COVID pandemic. By early 2025, the economy had recovered and unemployment had dropped back to the 4 percent range. Then sweeping new tariffs sent the stock market reeling.

Vicki Bogan, who studies household finance, inequality and investment decision making, talks with Manoj Mohanan, Interim Dean of the Sanford School of Public Policy at Duke University, about what this latest financial shock might mean for families.

Read show notes/transcript at our website.