Ones and Tooze Is the U.S. Economy Really Booming?
Feb 11, 2022
The U.S. economy has surged nearly 6%, marking the strongest growth in decades, yet dissatisfaction lingers. The discussion navigates the recovery post-pandemic, revealing deep-seated inflation concerns and political challenges. Interest rate hikes are examined for their potential effects on the housing and stock markets, showcasing the Fed's balancing act. A special segment on Valentine’s Day delves into the booming perfume industry, revealing how fragrances carry emotional weight and tracing their global production from France to China.
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Economic Rebound
- The US economy is still 1-2% below pre-COVID trend, despite rapid growth.
- Sectors like services and business investment lag, while goods purchases surge, contributing to inflation.
Economic Anxiety
- Public anxiety about the economy doesn't fully align with positive indicators.
- Political polarization significantly impacts economic sentiment, with Republicans consistently negative.
Inflation Paradox
- Inflation, though disliked by the public, can signal a healthy economy with strong demand.
- It becomes problematic when it erodes confidence or fuels uncontrollable price increases.