The American economy, by many measures, is doing better than it has done in years. But for many Americans, that is not how it feels. Their feelings point to an enduring mystery: Why do Americans feel so bad when the economy is so good?

Jeanna Smialek, who covers the Federal Reserve and the U.S. economy for The Times, discusses a new way to understand the disconnect. 

Guest: Jeanna Smialek, a reporter covering the Federal Reserve and the U.S. economy for The New York Times.

Background reading: 

• Video: What’s causing the “bad vibes” in the economy?
• Consumer spending has been strong in 2023 despite higher prices and waning savings. But some retailers have jitters heading into Black Friday.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.