Nearly eight in 10 Americans say they expect inflation to get worse; half expect it will increase "a lot." A similar percentage of US adults, 78%, say they expect interest rates to rise.
That's according to recent polling conducted by Gallup.
As inflation increases, 46% of Americans predict the stock market will go up, while 29% say they expect it go down.
When it comes to unemployment, 43% of Americans say they expect the rate to fall; 34% say they believe it will go up.
When asked to rate current economic conditions:
- 23% described economic conditions as "excellent or good"
- 40% said they are "only fair"
- 37% said economic conditions are "poor"
Amid concerns with the inflation, Americans view the economy much more negatively than positively. Twenty-nine (29%) say the economy is getting better but 67% say it is getting worse.
Gallup's Economic Confidence Index (ECI) for January yielded a -26 score, which is slightly better than December's score of -33 that tied for the worst since the pandemic began. The higher January score was mainly due to a less negative assessment of current economic conditions.
Before the coronavirus pandemic began, Americans viewed the economy much more favorably, than negatively.
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