Consumer sentiment is lower now than when inflation peaked at 9.1% — and the richest 10% of Americans account for half of consumer spending

Are Americans gloomy about the economy or is something else afoot?

Polling is looking grim for Republicans ahead of the US midterm elections on November 3, 2026, due in large part to deep pessimism among the public about the economy. At first glance, this might seem surprising. With the exception of inflation, many economic measures remain strong, including gross domestic product growth. But consumer sentiment continues […]

The booming stock market is masking a deeper American financial crisis

Polling is looking grim for Republicans ahead of the U.S. midterm elections on Nov. 3, 2026, due in large part to deep pessimism among the public about the economy.At first glance, this might seem surprising. With the exception of inflation, many economic measures remain strong, including gross domestic product growth. But consumer sentiment continues to languish. This has prompted a debate over whether mere “vibes” are in play, or whether these…

Consumer sentiment is lower now than when inflation peaked at 9.1% — and the richest 10% of Americans account for half of consumer spending

A Pew survey in early October found 84% of registered voters said the economy was very important to their vote, the least polarizing issue it asked about.