How the economy is doing has always been a contentious topic, particularly when friends and family with different politics gather for Thanksgiving dinner. And the question has gotten even thornier this year, with consumer sentiment and polling data about the economy becoming historically de-linked from official measures of economic health like GDP. It’s not our job to tell people how they should feel about the economy, but we can at least add some facts as context to common complaints.
Well, it’s a bit more complicated than that. The rent-seeking class prefers higher interest rates because they get higher returns on their investments. They’ve been lobbying the Fed to raise interest rates for over a decade, and they’ve finally gotten their wish.