Consumer sentiment rises but inflation concerns linger as midterms approach
• Consumer sentiment has climbed over 30% since late last year, rising to 79.4 in March from 61.3 in November. White House hopes this signals economic exasperation is easing.
• The index is sensitive to inflation and dropped to 50.0 last June - the lowest ever - when inflation peaked. This meant consumers felt worse than during several previous crises.
• Former White House Chief of Staff Ron Klain said Biden should contrast "whose side are you on" more and laud achievements less when messaging on the economy.
• Economists warn high inflation persists, real wages declined significantly already, and voter discontent on the economy remains broad.
• White House plans to continue policy agenda, hoping rising incomes lifts economic indicators, but perceptions on economy may be hard to shift before November.