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The Economy Is Booming. Why Does It Feel Like a Bust?

6/17/202619 min

Stock markets are hitting record highs, the job market is doing fine and productivity is up. Yet many Americans are feeling strapped despite the positive data. WSJ’s Harriet Torry explains the contradictory signals. Jessica Mendoza hosts.

Further Listening:

- The Energy Shock Is Here

- Germany’s Economy Is Spiraling. Can War Fix It?

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Clips

Wages Falling Behind Inflation
Explaining The K-Shaped Economy
AI’s Boost To Productivity
Expectations Shape Economic Reality
Fed Can't Pump Oil
Vibe Session 2.0

Transcript preview

First 90 seconds

  1. Jessica Mendoza· Host0:00

    [upbeat music] The US is living through an unusual economic situation right now, a kind of split-screen reality.

  2. Harriet Torry· Guest0:12

    I think for the average person, the economy feels weaker than it actually is.

  3. Jessica Mendoza· Host0:20

    The country is now in the throes of the highest inflation it's seen in three years, and people are feeling it. Last month, polling from the University of Michigan showed consumer sentiment is at its lowest point in more than 70 years.

  4. Harriet Torry· Guest0:36

    So I think we all just feel that prices have risen a lot, you know.

  5. Jessica Mendoza· Host0:41

    Our colleague, Harriet Torry, covers the economy, and she's experienced for herself what she's been reporting on, like when she's at the gas station.

  6. Harriet Torry· Guest0:48

    [machine beeping] It's definitely costing me a lot more to fill up my, my Subaru than it did a few months ago. And, uh- Or at a local shop, buying a $7 candy bar. Hi. Could I get a bar of the Dubai chocolate, please?

  7. Speaker 31:02

    Sure.

  8. Harriet Torry· Guest1:02

    Okay, thanks a lot.

  9. Jessica Mendoza· Host1:04

    Or when she was at the supermarket the other day, picking up dinner.

  10. Harriet Torry· Guest1:08

    Hi. Could we get a large, um, pepperoni pizza, please?

  11. Jessica Mendoza· Host1:11

    Yeah.

  12. Harriet Torry· Guest1:12

    Yeah. Pepperoni as well.

  13. Jessica Mendoza· Host1:14

    We want pepperoni.

  14. Harriet Torry· Guest1:16

    At the grocery store, I personally just find myself looking for deals a lot more, and I managed to spend $100 even though I only left the store with a pretty small bag of groceries.

  15. Jessica Mendoza· Host1:27

    Ouch. How did that feel?

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