Why don't we feel better about the economy?

Is the American consumer in a good place? Or between a rock and a hard place?

The stock market is hitting historic highs. And while we know the the market isn’t the economy, it’s not the only indicator reporting somewhat rosy — or at least soft pink — numbers. GDP is up. Unemployment is low. Interest rates have inched down.

But the average American doesn’t feel it. When it comes to how they perceive the economy, gloominess prevails. Consumers cite a “low-fire, low-hire” job market, stubborn high inflation and the high cost of living — aka affordability — as evidence. And when sliced a different way, the numbers support their pessimism.

So what gives? Kerri Miller talks with two economists about how to make sense of the disconnect.

Guests:

• Janna E. Johnson is an associate professor at the Humphrey School of Public Affairs at the University of Minnesota. An economist and demographer, her research employs cutting-edge econometric methods to answer questions about U.S. population and policy.

• Stacey Vanek Smith is a columnist at Bloomberg, cohosts the Bloomberg podcast “Everybody’s Business,” and is a special correspondent for public radio’s Marketplace. Previously, she was an economics correspondent for Planet Money and NPR. 

  Use the audio player above to listen to the full conversation.