{"id":2218763,"date":"2024-04-11T18:22:02","date_gmt":"2024-04-11T22:22:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/legacy-media-says-economy-is-doing-great-americans-arent-buying-it\/"},"modified":"2024-04-11T18:24:52","modified_gmt":"2024-04-11T22:24:52","slug":"legacy-media-says-economy-is-doing-great-americans-arent-buying-it","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/legacy-media-says-economy-is-doing-great-americans-arent-buying-it\/","title":{"rendered":"Traditional media claims the economy is thriving, but many Americans remain skeptical"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Flegacy-media-says-economy-is-doing-great-americans-arent-buying-it%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2218763&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The media reports economic\u200d growth and declining inflation, but public sentiment contradicts. \u200bThe Federal \u200bReserve&#8217;s reluctance to cut interest rates due to persistent inflation has led\u2064 to stock market declines. Inflation, running at 3.5%, exceeds the 2% target,\u200c affecting prices significantly. The Biden administration faces challenges as high interest rates persist, impacting economic dynamics. Media claims economic growth and decreasing inflation, but public perception differs. \u2064The \u2062Federal Reserve&#8217;s hesitance to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/interest-rates-for-retail-credit-cards-hit-record-as-fed-works-to-contain-inflation\/\" title=\"Retail credit card interest rates reach record highs as the Federal Reserve takes action to control inflation.\">lower \u2063interest rates<\/a>, driven by ongoing inflation \u200cat 3.5% above the 2% target, has \u2062caused stock \u200dmarket dips. \u2064High interest\u2064 rates pose\u200b challenges for\u200d the Biden administration, influencing economic\u2063 conditions.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><span style=\"font-weight: 400\">We\u2019ve been told by virtually every <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/is-he-guilty-of-sexual-misconduct-depends-on-his-political-party\/\" title=\"Is He Guilty Of Sexual Misconduct? Depends On His Political Party.\">major media outlet<\/a> that we are now in a soft landing, that inflation has started to decline, that the economy continues to sail along. <\/span><\/p>\n<p><span style=\"font-weight: 400\">But nobody is feeling like that.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This has been the big, perplexing question for Democrats. Why is it that the economy is <\/span><i><span style=\"font-weight: 400\">so <\/span><\/i><span style=\"font-weight: 400\">amazing, but nobody <\/span><i><span style=\"font-weight: 400\">actually feels<\/span><\/i><span style=\"font-weight: 400\">  like the economy is so amazing?<\/span><\/p>\n<p><span style=\"font-weight: 400\">One reason is that, contrary to popular opinion, we have not yet defeated inflation. Just yesterday, the Wall Street Journal <\/span><a href=\"https:\/\/www.wsj.com\/economy\/inflation-march-cpi-report-interest-rate-239b7e5e\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">reported<\/span><\/a><span style=\"font-weight: 400\">:<\/span><\/p>\n<blockquote>\n<p><i><span style=\"font-weight: 400\">Stubborn inflation pressures persisted in March, derailing the case for the Federal Reserve to begin reducing interest rates in June and raising questions over whether it can deliver cuts this year without signs of an economic slowdown.<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400\">The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-on-consumer-price-index-showing-prices-rising-at-fastest-pace-since-2008-a-good-monthly-report\/\" title=\"Biden On Consumer Price Index Showing Prices Rising At Fastest Pace Since 2008: \u2018A Good Monthly Report\u2019\">consumer-price index<\/a>, a measure of goods and services prices across the economy, rose 3.5% in March from a year earlier, the Labor Department said Wednesday. That was a touch higher than economists had forecast and a pickup from February\u2019s 3.2%. So-called core prices, which exclude volatile food and energy categories, also rose more than expected on a monthly and annual basis.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">This drove the stock market down roughly 500 points. It also meant that bond yields started to go up.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The bottom line is that inflation continues to run almost twice what it is supposed to be running. Year over year, the inflation rate is supposed to be about 2%, and it\u2019s currently running at 3.5%. When that is added onto the giant inflationary bubble from 2021 and 2022, prices are up roughly 20% for most Americans.<\/span><\/p>\n<h4><strong><a href=\"https:\/\/www.dailywire.com\/episode\/ep-1945-inflation-comes-in-hot-member-exclusive\" target=\"_blank\" rel=\"noopener\">WATCH: The Ben Shapiro Show<\/a><\/strong><\/h4>\n<p><span style=\"font-weight: 400\">Joe Biden\u2019s economy has not made up those wage losses. Politico is <\/span><a href=\"https:\/\/www.politico.com\/news\/2024\/04\/10\/inflation-report-interest-biden-00151488#:~:text=President%20Joe%20Biden%20has%20been,news%20is%20reaching%20its%20limits.\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">sounding the alarm<\/span><\/a><span style=\"font-weight: 400\">: <\/span><\/p>\n<blockquote>\n<p><i><span style=\"font-weight: 400\">President Joe Biden has been presiding over a good news economy for the past year, with strong growth, low unemployment and falling inflation. <\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400\">But that good news is reaching its limits. <\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400\">The cost of living rose faster than expected in March, with prices up 3.5 percent from a year ago, according to the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/washington-post-contributor-says-gas-prices-actually-arent-that-high\/\" title=\"Washington Post Contributor Says Gas Prices \u2018Actually Aren\u2019t That High\u2019\">latest consumer price index report<\/a>. And that likely means that Biden will have to live with high interest rates well into an election year, with investor hopes fading fast for a Federal Reserve rate cut in June.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">The Federal Reserve has kept those interest rates pretty high by at least the last ten years of standards. That means money is less easy. That means IPOs are less easy. Finding money to actually fund your start-up is less easy. Loans are not as easy to come by.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Typically, that presages some sort of economic slowdown; when interest rates are increased, inflation is supposed to come down \u2014 but markets are also supposed to be impacted. An interest rate increase is supposed to drive down prices. That\u2019s the purpose of the interest rate increase: to drive down prices. And that usually comes along with an economic cooling.<\/span><\/p>\n<p><span style=\"font-weight: 400\">But if the economy is super-heated, that does not happen, and we\u2019ve poured so much money into the economy in 2020, 2021, 2022, and 2023, that the economy doesn\u2019t seem like it\u2019s going to slow down anytime soon.<\/span><\/p>\n<p><span style=\"font-weight: 400\">You can make the case that it used to be supply chain problems that had driven the prices to exorbitant highs, but the supply chain problems \u2014 even though they\u2019re still there in places like the Red Sea \u2014 are not nearly what they were during the pandemic. Yet inflation rates are still clocking in far too high.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Even <\/span><a href=\"https:\/\/www.cnn.com\/2024\/04\/10\/economy\/cpi-consumer-price-index-inflation-march\/index.html\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">CNN is admitting<\/span><\/a><span style=\"font-weight: 400\">  inflation is moving in the wrong direction, noting the latest consumer price report shows prices up 3.5% over the same period last year. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Larry Summers, the former treasury secretary under Bill Clinton, previously predicted there would be a massive inflationary cycle after 2020. People laughed at him because we hadn\u2019t had a massive inflationary cycle in the United States for 40 years. But he was right.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Everybody is feeling it. Consumers are not confident in their ability to make on-time debt payments because interest rates are so high; if you get behind on your bills, it is very difficult to repay all of that.<\/span><\/p>\n<p><span style=\"font-weight: 400\">All of this is very bad for Biden. When a connection is made between a staggering economy with a completely atrocious foreign policy and a president who is no longer with us, that is a bad indicator for a reelection effort.<\/span><\/p>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mainstream media reports a smooth economic trajectory with decreasing inflation, yet public sentiment contradicts this narrative. Democrats are puzzled by the disconnect between the touted economic success and the public&#8217;s perception of it<\/p>\n","protected":false},"author":161,"featured_media":2218764,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/04\/GettyImages-2141953754.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-2218763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/04\/GettyImages-2141953754.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2218763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/161"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2218763"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2218763\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2218764"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2218763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2218763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2218763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}