On Friday’s MSNBC show “Morning Joe,” Senate Minority Leader Chuck Schumer (D-N.Y.) said that people’s negative view of the economy began about a year ago when Joe He said this is because he “remembers” the situation under President Biden.
“We’ve had the best two years in terms of producing for middle-class people and American values in a very long time,” Schumer said.
Co-host Joe Scarborough then said, “Let’s talk about the economy.” [W]A new report has arrived. Breaking news, once again, hiring has exceeded expectations…he added 275,000 new jobs in the past month. If you look at all the numbers, it’s historic, the highest payrolls in three years, the unemployment rate below his 4% for the first time in 60 years, and as the president said, new business startups increasing. I am. Closed up during manufacturing. I’m curious, you’ve been in politics for a long time, how long does it take for reality to catch up to expectations? ”
“The economy is always a lagging indicator. In other words, it takes about a year for reality to catch up with people’s opinions, because people still remember when eggs were $4 or $5,” Schumer said. Because they remember. They still remember when gas was $4 or $5. Now it’s cheaper. But people wonder if this is going to work or just… If this situation continues for a while, as it will, inflation will fall from 9% to less than 3% and a record 15 million new jobs will be created. , it’s all going to start to percolate. We’re already seeing it in parts of the Senate. In elections, the Senate candidates, the Senate incumbents, are talking about this record, and the Republican incumbents, the Republican incumbents, are talking about this record. We’re running ahead of the challenger. So this is a lagging indicator, but I believe that in people’s minds, by September, the economy will be in much better shape than it is now.”
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