Why Americans hate the "good" economy
Summary
Even though big U.S. economic numbers like GDP and unemployment look good, many Americans feel their daily costs, such as food and gas, are too high and unpredictable. A new Democratic-led project is studying how these price changes affect families to help shape policies that address these everyday struggles.Key Facts
- Overall U.S. economy indicators like GDP and unemployment are strong.
- Many Americans feel economic conditions are poor because day-to-day costs are high and unstable.
- The "Kitchen Table Project" is led by White House economic adviser Lael Brainard and former Consumer Financial Protection Bureau chief Rohit Chopra.
- The project studies how families with median incomes handle changes in prices for food, gas, and health care.
- Even with slower overall inflation, key items have become less affordable for many households.
- Rising wages and tax cuts have not fully balanced out increased living costs.
- Over half of survey respondents said beef prices caused the most stress when shopping for groceries.
- Factors raising beef prices include droughts, industry consolidation, tariffs, and a parasite affecting cattle.
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