According to the article, Professor Jeremy Siegel is claiming that the Federal Reserve doesn’t see that inflation rates are easing, therefore, the Federal Reserve plans to increase interest rates to combat what they see as high inflation rates, and Siegal believes that this will push the economy into the red.

In other words, Siegel is saying that by raising interest rates and making things more expensive, the Federal Reserve is trying to slow down consumer spending to prevent the economy from crashing if it grows too fast.

Think of it like putting more pressure on the brakes to slow down a car so you don’t hit the vehicle in front of you. Regular people tend to like being able to spend money freely, but in doing so, the economy—think of it again like the car—goes faster, causing inflation rates to go up as demand for products goes up. If consumer spending isn’t slowed by higher interest rates put forth by the Federal Reserve, the economy will crash—just like the car.

So now one of the major questions for us is: How can we combat a recession? In other words, how can we weather the storm, or even try to limit its effects, when we are just ordinary people?

1. Try to refrain from spending too much but at the same time not to be too afraid of spending. In a recession, customers and businesses may be too scared to spend money, but also remember, less spending contributes to a deeper recession, and how long it occurs for.
2. Spend money on right things and in right directions, such as paying off debt, or investing in improvements or good safety nets for yourself or your business.
3. Show your value at work. Without showing value, it would be hard for anyone to be safe at any workplace at a recession. During a recession, even Google or Facebook would lay off employees too. Therefore, it’s important to do your best and secure your current position.

Language Service Providers aren’t just responsible for their business, but also for their employees and their families. Weathering a recession is incredibly important for our business, so what can LSPs do?

1. Remember that language services as a need aren’t going to disappear, so don’t panic. With our increasingly globalized world, language service requests can come from virtually anywhere, even outside of the United States.
2. Cut costs where you can, but treat your employees—and your vendors—well. Employees are the backbone of every company, and one that is treated well will want to give back in every way that they can. Besides, letting go of good employees only to be looking to hire later and train someone new costs time and energy as well.
3. As a business, we often think a recession presents opportunities as well. We should all be more careful and thoughtful in planning and looking ahead to contribute to the health of our company.

For language service providers, working from home was already relatively common before the pandemic. There were even some companies whose entire workforce worked remotely. With the coronavirus pandemic, most if not all LSPs have now moved to remote work. Some people are concerned that working from home leads to lower productivity. Many LSPs have seen a reduction in how much work they have, so comparing the company’s efficiency or productivity between “then” and “now” might not give a fully accurate picture of the effects of working from home. But since the future of COVID-19 is uncertain, we think it is likely that LSPs will continue to let their employees work from home for a while yet. And, if companies remain productive once business starts picking back up, perhaps more companies will consider going remote permanently.

Since almost everything has to be conducted remotely these days, usage of technology that allows us to communicate remotely has skyrocketed. This trend includes the use of remote interpretation technology, such as phone and video interpretation. These services allow critical information to be shared safely. While this type of interpretation is usually not a client’s first choice (many people naturally prefer in-person interpretation), people will get accustomed to using it. And once people are used to it, it is less likely that they will stop. This is why we think that even when in-person interpretation is safe again, remote interpretation will remain more popular than it was before the pandemic.

This pandemic has revealed the importance of medical interpretation and translation, and also the limitations that many health care providers have in providing these services, especially interpretation. Many hospitals were not set up to allow for crucial remote interpretation services. Once the pandemic hit, this became even less of a priority for many hospitals, which has potentially had drastic effects on the lives of non-English speakers who contract the virus (US News). Now that this issue has come to light, we hope that health care providers will take it seriously and take action to make language access possible, especially during a time like this when many lives are at stake. We think that this awareness could spark reforms that improve health care language access across the country in the long term.

Finally, we believe we might see a difference in what translators and interpreters choose to specialize in. As discussed before, many industries have been hard hit by this pandemic, and as a result companies are choosing to forego translation and interpretation services for the time being. However, some translators and interpreters are in extra high demand, like those who specialize in medical and legal work. Since many people are currently worried about job security, and will likely remain worried about it in the future, we can expect that many linguists will take steps to ensure their job security, including specializing in a domain that will always be needed even during global emergencies.

In times of uncertainty, speculating about the future can help us feel more prepared for whatever is to come. We are not sure whether our predictions will occur, of course. But what we are sure of is that most people who contribute to the language services industry are passionate and hard working, and will always do their best to make communication possible.

The expected readers for the Chinese version of The New York Times are the, according to the Times, “educated, affluent, global citizens” of China’s fast-growing middle class. The site will feature about 30 articles a day, two-thirds of which will be translated articles originally published for the English version of the paper, and the other third being original articles from Chinese journalists and freelance writers. The articles will range from international news to editorials.

Although China has some strict laws against what can and cannot be published, the Times will side-step that by not sourcing the physical site in China. The paper’s foreign editor Joseph Kahn said, “We’re not tailoring it to the demands of the Chinese government, so we’re not operating like a Chinese media company. China operates a very vigorous firewall. We have no control over that. We hope and expect that Chinese officials will welcome what we’re doing.”

This new translation service also has brought jobs to about 50 writers, translators, and editors. Chinese-based readers should enjoy the new various forms of media produced by the Times and all of the articles they would have normally not been able to read.