Fmr. Deputy Treasury Secy.: When Voters Say ‘Economy,’ It’s the Gas Prices

EXCERPT:

FAULKENDER: “Yeah, that’s why when people say that it’s the economy and not the war, really, those two are completely related because the resolution of the war will bring down gas prices. And people, when voters say the economy, they really mean gas prices. If you were to plot gas prices against the generic congressional ballot, they line up very closely with each other. And so, even though the jobs market is going well, we have enormous investment going on, the Atlanta Fed forecast that we’re going to have a blowout quarter, third quarter GDP number. The sourness about the economy seems to entirely be coming from gas prices. And as you said, diesel prices in particular.”