Americans are finally feeling better about the economy
After months of gloom, Americans are finally starting to feel better about the economy and more resigned to inflation.
Consumer sentiment, which hit rock bottom in June, has begun inching up in recent weeks. Gas prices are down. Decades-high inflation appears to be easing. And at the same time, Americans are making small changes — buying meat in bulk, for example, or shifting more of their shopping to discount chains — suggesting that many families are learning to deal with higher prices.
“While consumer sentiment is still fairly low by historic standards, we’re starting to see pretty dramatic improvements,” said Joanne W. Hsu, an economist at the University of Michigan and director of its closely watched consumer surveys. “It’s very much being driven by a slowdown in inflation, particularly with the decline in gas prices.”
That’s particularly good news for the White House, which has been hammered by criticism that it hasn’t done enough to address inflation.
https://www.washingtonpost.com/business/2022/09/10/economy-inflation-gas-prices/
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