Co-host of “The Big Money Show” Taylor Riggs joins Fox Across America With guest host Rich Zeoli to give her assessment of how the U.S. economy is doing under President Biden’s policies.
“So some of the good news that we’ve had this week, the jobless claims, some of the consumer sentiment survey, consumers still feel like there’s good jobs out there and that if they want to get a job, they can. Unfortunately, though, some of the blame that we can talk about is this massive inflation that is still ongoing. We got more inflation numbers out this morning. It’s called the PCE. Basically, it’s just what the Fed is really looking at. It is still at 4.6%. That is still over double what the Fed wants at 2%. And here’s the problem. When inflation is that high, all of the wage gains that we’ve all gotten in the last couple of years have been totally wiped out because inflation is higher than what we are making and the wage gains that we’re getting. So I was reading a really cool statistic, we are now looking at real, which just means after inflation, weekly earnings are now negative for 26 straight months. You and I have gotten poorer for 26 straight months. That is the longest stretch in history. That is double the stretch of the 2008-2009 financial crisis, which, let’s be honest, that was horrible. It’s 93% of Biden’s tenure. So I think when you look at the jobs out there and the unemployment rate, things look good. But if you ask individuals at home and you see that people have actually gotten poorer in the last 26 months, that is painful and that’s what people really feel and they’re experiencing.”
Listen to the podcast to hear what else she had to say to Rich!
