Many Say It Feels Like We’re in a Recession, but Do They Really Believe It?

Source: Foundation for Economic Education
by Peter Jacobsen

“Off and on over the last two years, we’ve heard from major media outlets about something called a ‘vibecession.’ The idea behind a vibecession is straightforward. Many people say they ‘feel’ like we’re in a very bad moment economically, despite the fact that inflation has begun to slow relative to its worst levels (granted, prices aren’t going back down), unemployment rates are low, and average incomes seem to be rising again after the economic downturn caused by Covid policies. Recent reporting claims the vibecession is cooling down, but the question is, was there ever anything to it?” (05/13/24)