Why is U.S. public so pessimistic about the economy?
Fifty-one percent of those polled by the Gallup organization on January 19, 2014 believe that the U.S. economy is getting worse, but four key measures of economic health tell a different story. Real GDP, corporate profits, industrial production and the S&P Index have recovered and are now at record highs. So why is the public pessimistic? The answer is employment, says Lee McPheters, regional economist and director of the JPMorgan Chase Economic Outlook Center at the W. P. Carey School of Business.
Fifty-one percent of those polled by the Gallup organization on January 19, 2014 believe that the U.S. economy is getting worse, but four key measures of economic health tell a different story. Real GDP, corporate profits, industrial production and the S&P Index have recovered and are now at record highs. So why is the public pessimistic? The answer is employment, says Lee McPheters, regional economist and director of the JPMorgan Chase Economic Outlook Center at the W. P. Carey School of Business.
Lee McPheters slides
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