CPI - Chances Are You're Wrong On Bidenomics: Survey Finds Wildly Concerning Views About Wealth Income And Jobs | Benzinga
A large percentage of Americans appear to be wrong about the state of the economy.
While most people share a gloomy sentiment about unemployment, poverty, purchasing power and consumer spending, hard data shows that the U.S. economy is actually thriving.
A recent survey by FocalData and Financial Times sheds a worrying and bewildering light on perceptions of economic well-being versus real data markers.
More than 2200 U.S. adults were asked to rate their opinion on several economic indicators, and their answers were incorrect in most cases when compared to the numbers.
Are Wages Losing To Inflation?
Inflation has been a major concern for Americans — and most of the industrialized world — since the impact of the COVID-19 pandemic and the Russian invasion of Ukraine shot prices through the roof.
Although, with prices decelerating to a 3.2% rise in October versus the previous year, the worst part of the inflation storm seems to have passed.
Inflation has been consistently dropping since peaking in June 2022, and recent decisions on interest rates by the FOMC indicate that the Fed is getting comfortable with the rate of disinflation. The agency chose to pause interest rate hikes twice in a row in the most recent meetings.
This week, a report by ING even predicted that the Fed is ready to implement a series of rate cuts in 2024.
Yet of those surveyed, 73% of respondents believed that the rate of inflation had actually risen in the past year, while only 9% acknowledged that the ...