One of the persistent storylines of the last six months or so is the clash between Americans feeling pessimistic about the economy, and the reality of the actual (booming) economy. But that tale may be about to enter a new chapter.
One of the persistent storylines of the last six months or so is the clash between Americans feeling pessimistic about the economy, and the reality of the actual economy. But that tale may be about to enter a new chapter.We're at a pivot point in this bad vibe era as the Federal Reserve moves to for-real put the brakes on the economywhich could cool off the era's signature hot labor market. Next week the Fed will likely hike rates by a half-percentage point.U.S.
"Consumers are increasingly feeling the pinch from high prices, of food, energy and rents, among other things," Rubeela Farooqi, chief U.S. Economist at High Frequency Economics told Axios in an email. "But they have managed to spend, supported by gains in incomes and savings."
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