Understanding Inflation and Economic Goals

Inflation is the central concern for voters in the upcoming election, with a universal target of maintaining it around 2%. Current inflation stands at 2.9%, a significant drop from its previous peak of 9.1% in June 2022, yet still above the desired level. Additionally, the unemployment rate is reported at 4.2%, which falls within the generally healthy range of 3% to 5%, and GDP growth for 2023 is at 2.5%, slightly below the long-term average. The stock market has seen a notable increase, up around 25% over the last year, largely driven by technology sector giants like Nvidia and Apple, demonstrating a contrast between general economic indicators and public perception of economic success.