There have been bitter disputes within Congress — in 1856, Charles Sumner, an abolitionist senator, was attacked and severely injured by a pro-slavery representative.
As a recent analysis in The Economist pointed out, given the historical relationship between economic fundamentals and sentiment, you would have expected Americans to be feeling pretty good about the economy right now.
One story is that we’re in a “vibecession,” in which people are buying into a negative narrative — to some extent purveyed by the news media — that is at odds not just with data but also with their own experience.
The notion that there’s a disconnect between perceptions of the economy and personal experience seems to be validated by the fact that consumer spending remains robust despite low economic confidence.
We’ve gained 13 million jobs since Joe Biden took office, yet Americans consistently report hearing more negative than positive news about employment.
But public perceptions of inflation may depend on the change in prices over several years rather than the one-year-or-less numbers economists usually emphasize.
The original article contains 897 words, the summary contains 173 words. Saved 81%. I’m a bot and I’m open source!
This is the best summary I could come up with:
There have been bitter disputes within Congress — in 1856, Charles Sumner, an abolitionist senator, was attacked and severely injured by a pro-slavery representative.
As a recent analysis in The Economist pointed out, given the historical relationship between economic fundamentals and sentiment, you would have expected Americans to be feeling pretty good about the economy right now.
One story is that we’re in a “vibecession,” in which people are buying into a negative narrative — to some extent purveyed by the news media — that is at odds not just with data but also with their own experience.
The notion that there’s a disconnect between perceptions of the economy and personal experience seems to be validated by the fact that consumer spending remains robust despite low economic confidence.
We’ve gained 13 million jobs since Joe Biden took office, yet Americans consistently report hearing more negative than positive news about employment.
But public perceptions of inflation may depend on the change in prices over several years rather than the one-year-or-less numbers economists usually emphasize.
The original article contains 897 words, the summary contains 173 words. Saved 81%. I’m a bot and I’m open source!