Almost all the available evidence suggests that the U.S. economy is achieving what many economists had thought impossible — a soft landing in which inflation returns to acceptable levels without a recession.
Yet polls suggest that the public remains very down on the state of the economy.
Some commentators, however, are strenuously — I might even say weirdly — opposed to considering this possibility, which I find hard to understand.
After all, we know that views about the state of the economy are marked by huge partisan differences.
However, when it comes to one important issue, inflation, I think there’s a way to look at the situation that makes sense of the divergence between economists — who are almost giddy over the speed with which inflation has come down — and the broader public, which still says that inflation is getting worse.
Persons:
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Locations:
U.S