Poll questions are purposely tailored to draw a narrative for the media, but hardly paint an accurate picture. Educated people can agree that the US economy is very strong right now, but inflation is still higher than consumers would like. Just 6 months ago inflation was almost 10% but has come down to 6.5% without Congressional or Executive office intervention. So what's the take away? Either the American consumer is economically stupid or we just love to bitch. I'm thinking it's a little of both.
Thank God for Joe Biden and the Democrats.
You claim educated people know it. But your post contains nothing educated.
IMF just published its forecast that GDP growth of U.S. in 2023 will be 1.4. Is this what you meant "very strong"? LOL.
Inflation Peaking amid Low Growth
January 30, 2023
Description: The January 2023 World Economic Outlook Update projects that global growth will fall to 2.9 percent in 2023 but rise to 3.1 percent in 2024. The 2023 forecast is 0.2 percentage point higher than predicted in the October 2022 World Economic Outlook but below the historical average of 3.8 percent. Rising interest rates and the war in Ukraine continue to weigh on economic activity. China’s recent reopening has paved the way for a faster-than-expected recovery. Global inflation is expected to fall to 6.6 percent in 2023 and 4.3 percent in 2024 , still above pre-pandemic levels.
Link: https://www.imf.org/en/Publications/WEO
We delude ourselves that we can control it.
But what's far worse is that those who try to control it pervert the natural process and always resort to brutal repression to act put their severe OCD.
They have been increasing the interest rates to create a recession. The recent bear market is a result of them only increasing rates to .5 back in December. Prior to that they'd been increasing it in increments of .75.
The next 6 months will be interesting. They've said they will increase rates by .25 3 more times. Theyve stated they want to get inflation back to 2%. These minor adjustments are their attempt to create a soft landing.
The good news is that consumers saved money during the pandemic, so that excess savings may drive consumer behavior to the point where demand does not significantly decrease. That's the best case scenario.
Your assertion that the economy is healthy is just wrong. The Fed wouldn't have increased rates to what they are if that were true. Increasing rates to this level would tank a good economy.
e.g. 1974