The U.S. economy is sending Americans plenty of puzzling signals lately. According to NPR reporting, employers added 162,000 jobs in August, but wholesale prices jumped 5.4% from a year earlier.
That said, Treasury Secretary Scott Bessent said there's a reason economic confidence remains tough to rebuild.
For households, the test is pretty clear: Does their paycheck stretch far enough? A robust jobs report offers reassurance but does little to erase the frustration of paying more for everyday necessities.
At the same time, investors face their own version of that question. An economy that continues to move can effectively support healthier corporate profits, yet sticky inflation complicates matters for borrowing costs and stock valuations.
He's defending the administration's economic agenda while acknowledging why so many Americans are unconvinced that their conditions are improving.