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Declare victory on the economy, but there s no doubt that this is an economy to be celebrated. joe you snow is betsy stevenson, economist a professor of economics at the university of michigan. but he was a chief economist of the united states department of labor under president barack obama from 2010 to 2011. betsy, good to see you again. we don t like to jump to conclusions based on one month or two months worth of evidence or one metric and ignore others. but here, and i do think we have to put an asterisk next to interest rates, we got inflation and appointed a lot of people in the world would actually say is a reasonable level, 3%. we ve got unemployment growth, you ve got wage growth, strong markets. it s a good economy. it s a great economy. we are doing really well. you mentioned all the ways in which the economy is really strong, and it has been facing headwinds coming from a lot of
Know someone who is basing their vote on the economy, what more do you want? president biden may not want to declare victory on the economy, but there s no doubt that this is an economy to be celebrated. joe you snow is betsy stevenson, economist a professor of economics at the university of michigan. but he was a chief economist of the united states department of labor under president barack obama from 2010 to 2011. betsy, good to see you again. we don t like to jump to conclusions based on one month or two months worth of evidence or one metric and ignore others. but here, and i do think we have to put an asterisk next to interest rates, we got inflation and appointed a lot of people in the world would actually say is a reasonable level, 3%. we ve got unemployment growth, you ve got wage growth, strong markets. it s a good economy. it s a great economy. we are doing really well. you mentioned all the ways in
More indications that americans are feeling better about the economy as inflation cools. consumer sentiment tracked by the university of michigan rose 11% from june to juli. it s at the highest level since october, 2021. economists are pointing to slower inflation as the reason for the uptick in consumer sentiment, but are taylor swift concerts and the barbie movie also playing a role? jerome powell of the federal reserve was even asked about this over the week, and he pointed to high consumer confidence. with us to discuss is betsy stevenson, professor of economics and public policy at the university of michigan. she also served as the chief economist at the department of labor. betsy, can you help explain this phenomenon? what is going on with the economy, and what do barbie and taylor have to do with it? well, i mean, barbie is a really excellent movie that a lot of people are excited about,
Happening when we re seeing pretty historic rates of people googling recession, what some people have called a vibe-session, i think is pretty remarkable. that is remarkable. betsy stevenson, thank you so much for joining us with your insight. and speaking of taylor swift, turns out her fans not only have the power to help stimulate the economy, but they can also create seismic activity. much like an earthquake. an expert says at her seattle ncts dancing swifties caused record-breaking seismic activity similar to a 2.3-magnitude quake. apparently her fans really can shake it off. and the new cnn original series see it loud: the history of black television celebrates the creators who thought for representation fought for representation and inspired generations of viewers. here s a preview. there are new developments in