Thriving Economy, Pessimistic Public: The U.S. Economic Perception Gap

As President Joe Biden and former President Donald Trump gear up for the 2024 presidential debates, a significant disparity exists between the actual health of the U.S. economy and the public’s negative perception of it. Despite the Federal Reserve’s aggressive interest rate hikes, the economy is thriving with low unemployment, rising real wages, and strong GDP growth. Wall Street reflects this optimism with booming tech, low equity volatility, and record-high stock markets. However, public sentiment remains pessimistic, with surveys showing Americans favoring Trump’s economic approach over Biden’s.