Economist and Nobel laureate Paul Krugman weighed in on Monday on data that highlighted Americans’ optimism about their personal financial situations a year ahead.
What Happened: The New York Federal Reserve released the results of its consumer expectations survey for January on Monday, revealing that the percentage of consumers expecting their financial situation to improve — either much better or somewhat better — rose from 30.6% in December to 34.1% in January. This marked the highest level since March 2020, when the COVID-19 pandemic began.
Source: NY Fed
Responding to data shared by Wall Street Journal chief economics correspondent Nick Timiraos on X, Krugman said, “Beat me to it. People saying Americans aren’t feeling economic improvement are well behind the curve.”
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