FOLLOW US

For weeks now, Americans have heard about the infamous delta variant of coronavirus. This version of COVID is reportedly more contagious and even has a certain level of resistance against vaccines. As a result of the delta variant, the CDC announced back in July that Americans who are fully immunized should resume wearing face coverings; however, this announcement came after the CDC, other health officials, and the White House stated that getting vaccinated was key to no longer having to wear masks. The narratives keep changing. However, as the delta variant persists, it's having unintended consequences on the economy. Americans are now showing signs of worry about the economic impacts this virus could have.

Bearish projections from the American public

Investors, Republican voters, and Independent voters are the ones largely sounding the alarm about the economy. By contrast, Democrats are not all that concerned as a collective. However, according to a new Gallup survey, 60% of Americans believe the economy is getting worse. This comes in contrast to just 37% who told Gallup they believe the economy is improving. Ultimately, the greatest economic worry tied to the delta variant is the possibility of new shutdowns. As many Americans remember all too well, the lockdowns from 2020 wrought absolute havoc upon the nation's economy. Many investors and other Americans are therefore not very eager for a repeat.

Inflation vs. economic progress

Sadly, concerns about the economy are far from unwarranted. Inflation continues to be a thorn in the side of true economic growth. Prices are up; meanwhile, the spending power of the U.S. dollar is down. This isn't a good combination in any type of economic scenario. Inflation isn't going away any time soon, though. In fact, financial experts predict that inflation will maintain well into next year. This means that, for the foreseeable future, the economy is likely to remain in a volatile state. The liberal spending from the Biden administration has played a considerable role in the present inflation-fueled impacts on the economy. As it turns out, hefty spending packages and stimulus checks came with the adverse consequences that Republicans warned about.