The Biden administration and its hallelujah chorus in the establishment media have convinced themselves that the problem is that. They seriously contend and apparently honestly believe that the media is biased against Biden and therefore poisoning the minds of the American people about just how good the economy is.the media is biased toward negative economic stories
Another version contends that its all just partisanship. The public at large is not really down about the economy, only Republicans are.It's true that consumer sentiment is still weaker than you might expect given the economic numbers. But that's largely partisanship. Using Civiqs numbers, Democrats have more or less fully accepted the good news 3/There’s no doubt a partisan element at work, but that probably does not cut the way Krugman thinks it does.
More specifically, it reflects the experience of resurgent inflation and the expectation that inflation will not be coming down soon., a significant increase. Prior to the pandemic and Biden taking office, expectations ranged between 2.3 percent and three percent. The long-run inflation expectations moved up from 3.0 percent to 3.1 percent. Prepandemic, long-run expectations ranged from 2.2 percent to 2.6 percent.
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