Most Americans Think Economy Is In Recession Under Biden Despite Hard Data Telling Different Story: 'We're Not Feeling It Where I Live'
Portfolio Pulse from Shanthi Rexaline
A new Harris Poll commissioned by the Guardian reveals that a majority of Americans believe the U.S. economy is in a recession, despite data showing positive growth and low unemployment rates. The poll highlights a significant gap between economic data and public perception, with many blaming President Joe Biden for economic woes. The SPDR S&P 500 ETF Trust (SPY) fell 0.29% on Wednesday but has gained 47% since Biden's inauguration.
May 23, 2024 | 5:19 am
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NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) fell 0.29% on Wednesday amid widespread public pessimism about the economy, despite having gained 47% since President Biden's inauguration.
The SPY ETF's slight decline reflects the public's negative sentiment about the economy, despite strong performance since Biden took office. This sentiment could lead to short-term volatility.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80