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Three-Quarters of Americans Say the Economy Is on the ‘Wrong Track’

Almost three-quarters of consumers in Fannie Mae’s Home Purchase Sentiment survey said the economy is on the “wrong track,” the highest level in 11 years. The share of respondents who expect their personal financial situation to worsen over the the next year, 25%, is at a record in data that goes to 2010. In spite of a robust job market, increasing wages and a build-up in household savings during the pandemic, Americans’ view of the economy has deteriorated sharply as inflation flared in the past months.