The dominant economic story in the country during the Biden presidency is the spike in inflation. While the jobs numbers are prodigious, changes in employment by definition affect a smaller number of people than the price of everything, which affects everyone.
When inflation “goes away,” that doesn’t mean that every price reverts back to its previous level. For the most part, the rate of price increases just levels off. Anyone pissed off about prices at the grocery store is still going to be pissed off, because they’re still high relative to where they were in 2021….
The main prices that have fallen already are on gas and energy, but
that has ended, in part because of the ongoing heat wave, which prevents refineries from running at full capacity and increases demand for air-conditioning. The positive trends on consumer sentiment are if anything going to go down in the near term, as the most publicly visible posted prices in the country rise….