Data: BLS via FRED; Chart: Axios Visuals
Turns out how you feel about the economy likely comes down to your paycheck: If your wages are outpacing inflation, things look rosy — if not, well, that's quite dispiriting, a new paper finds.
Why it matters: The paper from economist Darren Grant answers a puzzle plaguing economists and journalists since 2022. That is, why was consumer sentiment so dismal even as the economy roared and unemployment hit record lows?
