Why a great US economy doesn't feel so great

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:



Meanwhile, my Bloomberg Opinion colleague Stephen Gandel notes that most Americans’ wealth hasn’t gone up during this boom. Most middle-class Americans keep their wealth in their houses, while the rich tend to put more in the stock market. But stocks have seen the bulk of the gains since President Donald Trump took office:



Even real estate isn’t doing so well for ordinary Americans these days, since the foreclosures of the housing bust and tighter lending standards have shifted housing wealth from the middle class to the rich.
And that’s just what’s happening recently. Over the longer term, Americans have been suffering from steadily falling mobility. Only about half of 30-year-olds now make more money than their parents did at a similar age:



https://www.msn.com/en-us/money/markets/opinion-why-a-great-us-economy-doesnt-feel-so-great/ar-BBPw5Wd?li=BBnbfcN