The problem continues to be, I'm sure, one of perception. Economists, politicians, and mostly central bankers have been saying for years that the real economy is the one you see in the unemployment rate. Things are booming. The labor market is awesome, even epically tight.
Between last year and this year, going by the unemployment rate the economy has only gotten better. Why in the world would the Federal Reserve be contemplating rate cuts? After all, who cares if inflation is less than 2%? Tame consumer prices together with plentiful jobs seems like perfection.
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