Why so glum?

Source: EconLog
by Scott Sumner

“The economy is booming, with unemployment near a 50-year low. Yes, there is high inflation, but NGDP is up 10.6% over the past 4 quarters, easily outpacing the rate of inflation. Nonetheless, the public feels horrible …. Why so glum? In April of last year, I predicted that the public’s mood would turn sour.” (06/17/22)