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The big-picture indicators of the U.S. economy, GDP, unemployment and so on, are doing fine while public opinion on economic conditions is at rock bottom.
Key facts
The big-picture indicators of the U.S. economy, GDP, unemployment and so on, are doing fine while public opinion on economic conditions is at rock bottom
What they're saying: "People are extremely worried about unexpected expenses, and how they will handle it," Brainard tells Axios
Case in point: More than half of survey respondents, for example, cited beef costs as the biggest driver of grocery price stress
Democratic elected officials have made "affordability" a potent focus of political messaging
Summary
The juxtaposition is the result of not the elevated prices reflected in macroeconomic data, but higher and more volatile prices for the specific items that dominate Americans' day-to-day living expenses. That's the early conclusion of top Democratic economic policy minds who have embarked on a new effort to quantify — and develop policy responses to, the economic forces that ail American households.