The NPR Politics Podcast
If The Economy Is So Good, Why Are People So Mad?
Aug 16, 2023
Scott Horsley, NPR's chief economics correspondent, dives deep into the paradox of the current economic climate. Despite low inflation and a robust job market, public sentiment remains grim. The discussion covers how rising gas prices and personal debt shape perceptions. The administration's optimism around Bidenomics faces skepticism as they attempt to shift public opinion. As 2024 elections loom, the interplay between economic priorities and social issues on voter behavior becomes increasingly crucial.
10:20
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Quick takeaways
- Despite rising gas prices, overall consumer sentiment about the economy is improving.
- High credit card debt is a concern, but increasing wages provide greater buying power.
Deep dives
Inflation cooling and job market holding up
Inflation in the US is cooling, with prices up 3.2% from last year, a big improvement from the 9% last summer. Core prices are approaching the desired levels, and the job market has remained strong with the addition of 187,000 jobs in July. This suggests the possibility of a soft landing for the economy, where inflation is controlled without triggering a recession.
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