Americans Gloomy on Economy Despite Growth, Fed Treads Carefully on Rates

Despite strong economic growth, low unemployment, and stock market gains, most Americans think the economy is only fair or poor.

Inflation remains stubbornly high, eroding wage gains and hurting consumer sentiment.

The labor market continues to be resilient, adding over 300,000 jobs in March.

Immigrants have helped boost job growth and limit wage increases, aiding the Fed.

Economic momentum, including 2.5% GDP growth, allows the Fed to be patient on rate hikes.