Federal Reserve Chair Jerome Powell addressed questions about the public's dissatisfaction with the economy during a press conference on June 12, 2024. In response to a CBS question, Powell stated that he does not have a definitive answer as to why people are not happy with the economy, despite strong economic data indicating solid growth. He emphasized that it is not the Federal Reserve's job to tell people how they should feel about the economy, noting that people experience what they experience. Powell's comments come amid concerns that wages are falling behind inflation, full-time jobs are turning into part-time jobs, and rent and housing costs are significantly higher than official CPI claims.
“I don’t think anyone has a definitive answer why people are not as happy about the economy as they might be,” Fed Chair Powell says. “We don’t tell people how they should think or feel about the economy. That’s not our job. People experience what they experience.” https://t.co/n7ho3gU4kt
POWELL: "I DONT THINK ANYONE KNOWS WHY PEOPLE AREN'T HAPPY ABOUT THE ECONOMY” Americans: https://t.co/6rHmVKuloO
"I don't think anyone knows why people are not as happy about the economy as they might be" — Fed Chair Jerome Powell June 12, 2024 Maybe because wages are falling behind inflation, full time jobs are turning into part time jobs and rent/housing is 4x higher than CPI claims. https://t.co/FHaj7hAuDI
"I don't think anyone knows why people are not as happy about the economy as they might be" -Jerome Powell 6-12-2024 Your Fed Chair ladies and gentleman.. https://t.co/7sAolOvDxx
JUST IN: Fed Chair Powell said he does not have "a definitive answer as to why people are not happy with the economy." He said that all of the data is strong and "we have an economy growing at a solid pace." Why is there such a big disconnect between data and reality? https://t.co/ygfEqQGxld
in response to CBS question about the stellar economy and deplorables unable to appreciate how great Biden is: POWELL: "I DONT THINK ANYONE KNOWS WHY THE PEOPLE AREN'T AS HAPPY ABOUT THE ECONOMY AS THEY MIGHT BE" https://t.co/FGQAiD3ET4
POWELL: IT'S NOT OUR JOB TO TELL PEOPLE HOW TO FEEL ABOUT THE ECONOMY