Schumer: People Have Negative View of Economy ‘Because They Remember’ How Things Were About a Year Ago
‘The economy is always a lagging indicator’
Mar 9, 2024 9:00 AM
By Grabien Staff
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RUSH EXCERPT:
SCHUMER: “The economy is always a lagging indicator. In other words, it takes about a year for the reality to catch up with people’s views, because they remember, they still remember when eggs were $4 or $5. They still remember when gasoline was $4 or $5. Now, the prices are lower. But people have a view, let’s see if this sticks or this just isn’t a bump. Once it stays for a while, which it will, inflation going down from 9% to less than 3%, 15 million new jobs, a record, that’s all going to start sinking in. We’re already seeing it in some of our Senate races, where the Senate candidates — the Senate incumbents are talking about this record and they’re running ahead of their Republican incumbents — their Republican challengers. So, it’s a lagging indicator, but, I believe, by September, the economy will be, in people’s minds, far more favorable than it is today.”
