Economic Boom Leaves Many Behind: Can a 'Soft Landing' Bring Prosperity into Balance?
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There is a "Great Economic Mismatch" between positive economic data and Americans' negative perceptions of the economy.
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Stimulus spending during COVID led to increased consumption and labor shortages, while income growth hasn't kept pace.
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High consumption and low savings rates are unsustainable; a mild recession could rebalance the economy.
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Structural labor shortages predate COVID but were exacerbated by the pandemic.
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The economy may need to cool off slightly to reach equilibrium between consumption, incomes, and availability of workers.