Social media in the context of economic information is a fascinating phenomenon. Experts suggest that the conversations and environment on social media may not only reflect people's feelings but also influence them. It is important to observe the tone of the conversation to understand why people think the way they do and how their perceptions are being shaped. Social media has the power to shape negativity and a negative view of the economy, rather than just reflecting it back. While it cannot be confirmed, it is a potential third indicator. These insights challenge the notion of economists always being right and Americans being wrong as economic measures are explored by Gina.
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:
For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.