this post was submitted on 30 Jan 2024
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GenZedong
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This is the best summary I could come up with:
Listen, I'm not saying that all the good vibes Americans are suddenly feeling about the economy boil down to stocks, gas prices, and eggs.
The job market remains strong, inflation is coming down, consumer spending is solid, GDP growth continues, etc.
What improved America's economic vibes was basically three things: the soaring stock market, falling gas prices, and eggs.
Even for people who aren't investors — though, contrary to popular belief, most Americans hold stocks — good market news tends to be a mood booster across the board.
A woo-hoo out of Wall Street is a smidge contagious, thanks to the wealth effect and the number of positive headlines soaring stocks generate.
As Jordan Weissmann at Semafor notes, the Federal Reserve Bank of San Francisco's index that tracks economic-news sentiment — the vibes generated by media coverage of the economy — started to tick up around the same time the stock market did last fall.
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