The data gets even more telling, though. For instance, 65% of voters maintain a pessimistic outlook on the nation’s economy. Just 32% told Fox News they harbor optimistic sentiments about where the economy stands today.
These numbers aren’t shocking.
During just this month alone, the Federal Reserve bumped up interest rates to the tune of 0.75%. This is the largest hike since 1994.
Economists already warned the central bank could cause a recession by continuously boosting interest rates like this; yet, chairman Jerome Powell believes otherwise.
Gas prices in the United States now stand at an average of more than $5.00 per gallon. Meanwhile, the White House is still pressing for bans on federal oil and gas leases.
Recession already here?
This week, House Minority Leader Kevin McCarthy expressed his view that the United States is already in the middle of a recession. If the country isn’t there, we are certainly heading in that direction.
Lowering spending levels, bringing down inflation, and boosting domestic energy production are each vital steps that would help the economy. However, the Biden administration remains more enamored with its own political agendas.
