“ Americans have a worse view of the economy now than:
· in mid-2022, when inflation hit around 9 percent
· in the immediate aftermath of the financial crisis, when unemployment was in double digits”
It’s definetly weird the view of the economy now is worse than after the financial crisis (maybe that’s because people thought we would rebound then?)
But it’s not surprising to me views of the economy now are worse than when we had peak inflation. I don’t think people really “feel” inflation, they feel the results of the inflation. That is, it affordability is down and wages aren’t rising, the longer it’s perceived that’s happening the worse. I don’t know if it’s because of the way it was defined - as a result of COVID and the Ukrainian war, but I did have a sense during the period of inflation that somehow it would recovers(I’m describing a feeling here, not my objective economic understanding of economics)
So if others felt the same, then it’s not surprising sentiment wouldn’t rebound with the end of inflation, especially with tariffs hitting people where it hurts like the grocery store. Even as a solidly upper middle class individual, grocery shopping hurts.
techblueberry•2mo ago
· in mid-2022, when inflation hit around 9 percent
· in the immediate aftermath of the financial crisis, when unemployment was in double digits”
It’s definetly weird the view of the economy now is worse than after the financial crisis (maybe that’s because people thought we would rebound then?)
But it’s not surprising to me views of the economy now are worse than when we had peak inflation. I don’t think people really “feel” inflation, they feel the results of the inflation. That is, it affordability is down and wages aren’t rising, the longer it’s perceived that’s happening the worse. I don’t know if it’s because of the way it was defined - as a result of COVID and the Ukrainian war, but I did have a sense during the period of inflation that somehow it would recovers(I’m describing a feeling here, not my objective economic understanding of economics)
So if others felt the same, then it’s not surprising sentiment wouldn’t rebound with the end of inflation, especially with tariffs hitting people where it hurts like the grocery store. Even as a solidly upper middle class individual, grocery shopping hurts.