[whell]

Originally Posted by Chicks

Should we believe Americans when they say the economy is bad?
In an increasingly polarised and performative society, vibes are now often trumping objective reality
https://www.ft.com/content/9c7931aa-...1-d7ebd54b0f47



Simplest explanation: The morons of Whell's World get their "reality" from Faux "News", which refuses to acknowledge just how great this economy is, and how much better off everyone is. Fools like Whell believe this nonsense, despite all evidence to the contrary.

Yeah, those shitheads over at the CBO must all be Fox News watchers.

Over the 2023–2025 period, in CBO’s latest projections:

• Economic growth slows and then picks up. The growth of real (inflation-adjusted) gross domestic product (GDP) slows to a 0.4 percent annual rate during the second half of 2023; for the year as a whole, real GDP increases by 0.9 percent. After 2023, growth accelerates as monetary policy eases. Real GDP increases by 1.5 percent in 2024 and by 2.4 percent in 2025.
• That initial slowdown in economic growth drives up unemployment. The unemployment rate reaches 4.1 percent by the end of 2023 and 4.7 percent by the end of 2024 before falling slightly, to 4.5 percent, in 2025. Payroll employment declines by an average of 10,000 jobs per month in 2024 and rises by an average of 6,000 jobs per month in 2025.
• Inflation continues to gradually decline. Growth in the price index for personal consumption expenditures (PCE) slows from 3.3 percent in 2023 to 2.6 percent in 2024 and 2.2 percent in 2025. That slowdown reflects several factors, including softening labor markets and flagging growth in home prices (and even declines in some regions), which passes through to rents.
• The Federal Reserve further increases the target range for the federal funds rate (the interest rate that financial institutions charge each other for overnight loans of their monetary reserves) in mid-2023. It begins reducing that target range in the first half of 2024, as inflation continues to cool. The federal funds rate declines from 5.4 percent in the fourth quarter of 2023 to 4.5 percent in the fourth quarter of 2024 and 3.6 percent in the fourth quarter of 2025.

The economic projections could be worse, but the above certainly doesn't paint a picture that reflects your breathless comments about "how great the economy is."