, Columnist
Why a Great U.S. Economy Doesn’t Feel So Great
Low unemployment doesn’t make up for wealth loss, wage stagnation, rising inequality and declining economic mobility.
At least some of us are having fun.
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John Williams, president of the Federal Reserve Bank of New York, describes the economy “strong.” CNN says it’s “soaring.” Vice calls it “great,” and the Washington Post labels it “good.” I myself have referred to it as a “boom.”
But others wonder how this strong, great economy can be soaring when wages aren’t rising very quickly: