This is the published version of Forbes’ CEO newsletter, which offers the latest news for today’s and tomorrow’s business leaders and decision makers. Click here to get it delivered to your inbox every Sunday.
America has reached the point of mass confusion. As far as the economy is concerned, things are red hot. While the stock market set no new records last week, the Dow Jones Industrial Average, S&P 500 and Nasdaq composite are all still flying high. GDP continues to grow and unemployment is at a near-historic low, though first-time unemployment claims are starting to rise.
On the flip side, more than half of U.S. consumers think we’re currently in a recession, according to a Harris Poll survey conducted for the Guardian. Nearly half thought the S&P 500 stock index was negative this year, and 49% thought unemployment was at a 50-year high. It isn’t just this study, either. Consumer confidence is at its lowest level since July 2022, according to the Conference Board’s latest readings.
While part of this economic dichotomy can be attributed to the rise of online disinformation and fewer people reading well-reported business news, it isn’t the only problem here. Forbes senior reporter Derek Saul writes inflation has persisted in the post-pandemic years. Although it’s moderated from a four-decade high of 9.1% in June 2022 to 3.4% last month, many prices have yet to recede. Wages haven’t kept up with inflation, either. Since January 2021, the consumer price…
