Warsh Says Economy Showing ‘Impressive Resilience’—Most Americans Disagree
Summary
Kevin Warsh, the new Federal Reserve chief, said the U.S. economy is showing strong signs of resilience and the Federal Open Market Committee decided not to raise interest rates this week. However, many Americans disagree and feel the economy is getting worse, with concerns about rising costs and affordability.Key Facts
- Kevin Warsh attended his second Federal Open Market Committee meeting, where interest rates were kept the same.
- Warsh believes the economy is strong with steady job growth and stable unemployment.
- Inflation has spiked recently, partly due to the war in Iran.
- A Quinnipiac University poll found only 28% of voters think the economy is good or excellent.
- 59% of Americans surveyed believe the economy is getting worse.
- A Harris Poll found 95% of Americans see an affordability crisis from rising prices of groceries and gas.
- Negative views of the economy are common among Democrats, Republicans, and key voters for President Trump’s party.
- Consumer confidence declined in July after small improvements in June, affected by rising gas prices and uncertain international issues.
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