, Columnist
Schizophrenia Is Coming for the Election-Year Economy
Growth is surging, but unhappy consumer sentiment sits at odds with markets looking forward to lower rates.
Wall Street is psyched about a recovery on the back of falling inflation.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
To get John Authers' newsletter delivered directly to your inbox, sign up here.
It was the best of economies, it was the worst of economies. The U.S. was humming at an annualized growth rate of 5.2% (according to the official third-quarter gross domestic product numbers). And it was also slowing down toward recession (according to anecdotal evidence compiled by the Federal Reserve in its quarterly Beige Book).