Tyler Schipper, economist and associate professor at the College of Arts and Sciences at the University of St. Thomas, was interviewed by WCCO Radio on how while consumer sentiment is low, the stock market continues to grow.
From the interview:
Host: What do you see going on right now?
Schipper: At the bottom line, people are nervous about the economy. They’re still feeling pinched. That’s how consumers are feeling at the end of the day.
Host: There is this competing information out there. Markets seem to have been going great. I think that’s confusing for people, how that can be going on while other things seem to be going a different way.
Schipper: More and more, I’ve been seeing the economy as divided in three parts. Two-thirds of the economy, “regular people,” are really feeling pinched. They say so when asked in survey data. Then you also have that one-third part of the economy, the wealthier people, who are feeling pretty good about the economy right now. They are feeling pretty good about their stock market portfolios, their jobs are going well. Their consumption is keeping growth up.
