Why are consumers pessimistic about the economy while inflation is cooling?
1. Inflation peaked at 9.1% in June 2022 due to pandemic disruptions. 2. Current inflation rate is 2.4%, but prices are still 20% higher than four years ago. 3. Consumer sentiment remains pessimistic despite economic recovery and solid labor market. 4. Economic growth in Q3 was 2.8%, but below expectations amid ongoing uncertainties. 5. Voter concerns about the economy dominate ahead of Election Day, impacting market stability.