WTH Do Americans Think the Economy is Terrible? Gary Cohn on Bidenomics

According to President Biden, his stewardship of the economy –
which he has dubbed “Bidenomics” – should be praised as the best
America has ever seen. Unemployment is down and jobs are up. So
why exactly are Americans giving such poor ratings to Bidenomics?
Perhaps it’s because Biden’s $1.9 trillion economic stimulus
package unleashed the worst inflation in 40 years. And while
inflation may be lower today than it was three years ago, its
compounding effects mean that prices are still sky-high. On top
of that, Americans recently hit a record high of over a trillion
dollars in credit card debt. In short, it doesn’t take a PhD to
understand that Americans are hurting.


Gary D. Cohn is the Vice Chairman of IBM and served as chief
economic advisor and the 11th Director of the National Economic
Council to President Donald Trump. Before serving in the White
House, Mr. Cohn was President and Chief Operating Officer of
Goldman Sachs, a member of the firm’s Board of Directors, and
Chairman of the Firmwide Client and Business Standards Committee.
Mr. Cohn began his career at U.S. Steel before moving to New York
to trade on the New York Commodities Exchange.


Read the transcript here.