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“We are very lucky right now, given the situation of so many others during the pandemic,” said Mr McCauley, 36, who works at a data-editing firm. “Somehow we’re even better off financially, and it feels a little weird.”
Even for those who do well, the economy feels precarious. The University of Michigan’s venerable Consumer Sentiment Index fell in March to the same levels as 1979, when the inflation rate was at a painful 11 percent before rising in April.
Politicians are mostly silent about the explosion.
“Republicans are not keen on giving President Biden credit for anything,” said economist Mr. Baker. Democrats can boast of how many jobs are found and strong wage growth at the bottom, but they seem reluctant to do so knowing that many people are affected by inflation.”
The first coronavirus outbreak ended the longest US economic expansion in modern history after 128 months. A dramatic decline began. The federal government stepped in and generously spread the money. As people stayed at home, their spending habits changed. The recession ended two months later and the revival resumed.
Federal Reserve Chairman Jerome H. Powell, recently warned He said the labor market was “tight to an unhealthy level” and that there were too many employers chasing too few workers. But for workers, it’s gratifying to excel in their pursuit of a new position or career.
“Both my husband and I were able to make job changes that doubled our income from five years ago,” said Lindsay Bernhagen, 39, who lives and works for a start-up in Stevens Point, Wis. “Mostly it feels like silly luck.”
Ten years ago, the housing market was in chaos. According to The Dark Knight, more than seven million homes were lost due to foreclosures between 2007 and 2015. Some of these were speculative acquisitions or second homes, but most were primary residences. Encouraged by lenders, people lived in homes they couldn’t afford.
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