#522
Tell Me How You Really Feel
Published:
Jan 15, 2024
Author:
Sarah Parsons Wolter
Share:
As Americans, we may not be the most logical bunch, and our actions often reinforce this. This is what makes the Axios “Vibes” report so relevant – it’s often not the cold, hard data that determine how Americans vote, but rather how they feel.
The latest Vibes check reveals that nearly 9 in 10 Americans believe gas, groceries, and housing - not stocks - are the real economic indicators they care about, with 6 in 10 participants saying they are “triggered” when going to the grocery store. Nonetheless, spending has continued to trend upward. Polls capture good old American entitlement with the consumer sentiment that they should not be responsible for reigning in their spending, but rather, the US government is to blame for their need to spend more to maintain the same quality of life.
To make matters worse for many of these consumers feeling the financial stress of day to day life, federal student loan payments have resumed after a prolonged COVID-induced pause. Delay times to speak to support staff have jumped from 12 minutes to 70, a third of income driven payment plan applications remain pending for more than a month without resolution, and as the cherry on top, the Consumer Financial Protection Bureau has also noted inaccurate bills. Talk about having to double check your cheque!
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