Michigan Ross Professor Erik Gordon Joins Marketplace to Discuss Voter Sentiments
Announced in October 2023, Michigan Ross and the Financial Times are partnering on a monthly poll to track how American voters perceive financial and economic issues in the lead-up to the 2024 US presidential election. The poll will run for 12 months leading up to the election.
Erik Gordon joined Marketplace Morning Report on Jan. 19 to discuss how consumers feel about the economy. He noted some of the statistics that were published in the January edition of the Michigan Ross-Financial Times Poll.
"The most important thing is our sense of how we're doing relative to inflation," said Gordon. "Are our incomes going up faster than inflation is going up? Even in that good news December reading that you talked about, only 55% of people said they expect their incomes to rise at least as fast as prices. Just barely over half think that they're going to keep up with inflation."
Gordon later added, "When you ask (the American consumer) what is your number one concern going forward, it's the economy. And when you unpack that, it's inflation. They're not worried about losing their jobs, but they're worried about keeping up their standard of living."
