Poll after poll shows that the state of the U.S. economy is the leading concern for Americans ahead of the 2022 midterms. Gallup’s Economic Confidence Index continues to hover near lows not seen since the Great Recession, while CNBC reports that only 27% of Americans expect the economy to improve next year.
It’s no surprise voters are worried. Despite reports today that the U.S. economy grew last quarter at an annualized rate of 2.6%, economists continue to sound the alarm on a recession hitting the U.S. economy as soon as early next year.
Warning signs are everywhere. While many Americans continue to see higher wages, those have failed to keep pace with inflation for the past 17 months straight, as prices at the pump rise back up along with soaring grocery bills and upcoming costly winter heating costs.
This week, consumer confidence fell for the first time in three months. Mortgage rates reached 7% for the first time since 2002 – more than double what they were less than a year ago, as the housing market continues its longest slump in 15 years.
Voters will head to the ballots November 8 looking for leaders to help right the ship. Are you worried about the rocky road ahead for the economy? Join us.