Economic Pessimism on the Rise Despite Mixed Data

There is some evidence linking negative economic perceptions to factors like inequality, conspiracy theories, and pessimism, but it is inconclusive.

Media coverage of the economy may influence perceptions, but the direction of causation is unclear.

Partisanship strongly influences economic attitudes and the gap between partisan groups has widened.

Inflation is a top voter concern and prices have risen far more under Biden than Trump. This helps explain negative perceptions.

Economic sentiments often lag improving conditions. Even if inflation drops and wages rise, negative views may persist into the 2024 election.