US Economy and Distressed Communities

The US economy shows signs of growth but also widespread pessimism, with many Americans living in distressed communities. Urban areas are becoming more distressed while suburbs are prospering. Population shifts and wealth disparities are exacerbating the situation.

Federal Reserve Chair's Views on Financial Conditions in the US

Federal Reserve Chair Jerome Powell believes financial conditions in the US are tight despite the surge in equity markets. The market frenzy is encouraging spending among wealthy Americans but not benefiting the less affluent due to inflation and borrowing costs. The wealth effect theory is challenged by wealth disparities, inflation, and rising living costs.