I think this is spot on. Consumers in America are mostly in debt, so I think higher interest rates (and hopefully soon-to-be falling rates), higher general prices from the pandemic (and to some extent from fiscal policy), and gas prices are the top three drivers of why voters have been so pessimistic about the economy.
I think this is spot on. Consumers in America are mostly in debt, so I think higher interest rates (and hopefully soon-to-be falling rates), higher general prices from the pandemic (and to some extent from fiscal policy), and gas prices are the top three drivers of why voters have been so pessimistic about the economy.
The price levels don’t fall without a recession. Hopefully Biden will get lucky with lower rates and gas staying low going into November ‘24, and hopefully he’ll have highly disciplined messaging about making things more affordable for people his top priority. I’ve been pleased to see his economic messaging shift recently (more empathy, more specifics on policies to make things more affordable--Bidenomics more as a secondary driver), so I think he and his team get it.
I think this is spot on. Consumers in America are mostly in debt, so I think higher interest rates (and hopefully soon-to-be falling rates), higher general prices from the pandemic (and to some extent from fiscal policy), and gas prices are the top three drivers of why voters have been so pessimistic about the economy.
The price levels don’t fall without a recession. Hopefully Biden will get lucky with lower rates and gas staying low going into November ‘24, and hopefully he’ll have highly disciplined messaging about making things more affordable for people his top priority. I’ve been pleased to see his economic messaging shift recently (more empathy, more specifics on policies to make things more affordable--Bidenomics more as a secondary driver), so I think he and his team get it.