Co-host of “The Big Money Show” on Fox Business Taylor Riggs joins Fox Across America With guest host Paul Gleiser to assess the current state of the U.S. economy as we approach the 2024 presidential election.
“We are hearing from some earnings reports that things are good. Earnings are good. Companies are thriving. That doesn’t mean the consumers are thriving. I got a consumer confidence number this morning. Consumer confidence is at an eight month low. Equity markets are rallying today near records because there’s hope that the Federal Reserve 100% odds will cut interest rates in September because the economy is cooling and they’re worried about the economy. I read one opinion piece yesterday saying that the Federal Reserve needs to cut next week in July. That that’s how worried they are about the economy. So there’s a lot of different ways that every politician will slice and dice the data. Some will talk about record highs because great policy, low regulation, pro-growth, pro innovation. You could make that argument under Trump. Today you could argue record highs because the Federal Reserve is about to cut interest rates because the economy is slowing. But that doesn’t still solve the problem about how people feel. And on an inflation adjusted basis, how is your net worth? If our net worth is tied up in our pension, in our 401K after inflation, has it really done much? And right now it has not. Though that changes as long as inflation continues to cool the rate at which it’s increasing.”
To hear what else they discussed, listen to the podcast!
