Can Trump control inflation?
Notionally, Americans have never been better off. The ructions in tech stocks over the past few weeks cannot detract from the fact that the US economy has been outgunning other developed economies all century. The overall graph of real disposable income for Americans continues to trend upward, almost as if the sharp dip during the pandemic had not happened. That is certainly not true everywhere: in many countries, Covid has been followed by stagnation in GDP and wages. Yet, for all the wealth generated, many Americans simply do not feel that they are living in a thriving country. On the things that really matter, such as basic living costs, citizens at the lower end of the income scale feel their wages are increasingly inadequate. They are not imagining it.