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Sunday, July 21, 2024

A Sentimental View of the Stock Market

By Paul Krugman, NY Times

A funny thing happened on the way to the 2024 election. Well, actually, a lot of funny things happened. (Ron DeSantis!) But I’m talking about the economy. As I wrote in my latest column, there seems to have been a sudden upswing in consumer sentiment, which is finally starting to catch up with the reality that inflation has plunged while unemployment has remained low.

And I do mean sudden. Here’s a chart from the Michigan survey, the most widely cited measure of consumer sentiment:

More here (no paywall) >

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