The warm sun is beginning to shine on American consumers – and perhaps, by extension, the possibility of President Biden's re-election. One of them is that there is a huge gap between how great the economy looks on paper and how Americans are faring. None of this was enough to appease consumers, who until recently were as negative about the economy as they were during the Great Recession, when unemployment hovered around 9 percent. And surveys by YouGov and The Economist show that the share of Americans who believe the economy is in recession is declining. Meanwhile, Americans' wages have continued to rise and outpace inflation, and many consumers believe inflation has finally turned a corner.

Source: Washington Post January 23, 2024 13:40 UTC