How Americans feel about the economy

Trends that made Americans pessimistic are fading. Will their views change too?

February 1, 2024, 3:40 PM

The conventional wisdom is that the economy and a president’s fate are closely tied. For much of Joe Biden’s presidency, part of the story has been that despite a strong labor market and economic growth, views of the economy and Biden’s handling of it have been abysmal.

A lot of that likely had to do with inflation, rising interest rates and a declining stock market. Trends that, as of right now, have abated and even reversed. So what’s happened over the past three years and where are we headed? And what does all of that mean for November 2024?

In this installment of the 538 Politics podcast, Galen speaks with Joanne Hsu, who directs the University of Michigan consumer sentiment survey, and Neale Mahoney, economics professor at Stanford University.