The consumer price index (CPI), which measures the prices of goods and services, reached 8.3% in April, a record high. Americans are more worried about money and inflation than ever. According to the American Psychological Association, 87% of Americans feel that inflation has increased their stress levels.
APA Survey: 87% of Americans Stress About Inflation
Recent studies have shown that Americans are increasingly stressed about inflation and rising prices of daily goods and services. The American Psychological Association’s Stress In America Survey shows that Americans suffer from mental health problems related to inflationary pressures and money.
Vaile Wright, the American Psychological Association’s senior director for health care innovation, explained to Charlotte Morabito that “Eighty seven percent” of Americans believe that inflation and rising prices of everyday goods are what is causing their stress.
Mark Hamrick, Washington bureau chief at Bankrate, stated that Americans have hope. Hamrick stated, “I believe that people need to feel a sense of optimism.” People will be more likely to believe that their personal financial goals can be achieved if the economy is in good shape.
According to the APA’s Stress In America Survey, the number one stress issue was inflation. This includes gas prices, energy bills, and grocery costs. According to the APA’s Stress In America Survey, “due to inflation (e.g., gas prices and energy bills),” was the top issue. Many Americans believe there is a smoothing of disaster after catastrophe.
The Stress In America Survey by the APA notes that “the survey findings clearly show that U.S. adults seem to be emotionally overwhelmed, showing signs of fatigue.” The report states that 87 percent of adults agreed it felt like there had been a continuous stream of crises in the past two years. More than seven out of 10 (73%) also said they feel overwhelmed by the current number of crises.
Economists Confirm that the Democrats’ “Greedflation” Excuse Does Not Add Up
A number of Americans and economists don’t like the Democrats’ ‘greedflation’ excuse. One report clearly shows that the party’s rationalization is not correct. Erik Wasson, a Bloomberg author, noted that many Democrats are blaming price-gouging firms for the largest increase in Americans’ living costs in over a generation. “But economists, even some left-leaning ones, disagree.”
Jason Furman, a Harvard professor, said that ‘greedflation is only a minor role in the current inflation. Furman said that the corporation power was likely to play a small role in the current inflation. Furman explained that the primary reason for inflation is demand, which Furman said was the Harvard professor.
Bankrate’s April Mental Health Report shows that 40% of Americans believe money is negatively impacting their mental health.
In addition to the APA Stress In America Survey, Bankrate’s April 2022 money and mental health report shows that 40% of Americans believe that money has a negative impact on their mental health.
According to the Bankrate April mental healthcare report, “And among adults that believe money can have a detrimental impact on their mental well-being, around half (49%) say looking at their bank account is a trigger.” This suggests that we as a society need to be better at having conversations and experiences with money.
The macro environment and equities markets indicate that things are heading towards a long, drawn-out bearish market. Jerome Powell, chief of the Federal Reserve, recently stated that the U.S. central banking has no problem with raising the benchmark interest rate.
Powell stated in a Wall Street Journal interview that “we will go until it feels we’re in a position where we can say financial circumstances are in an appropriate location, we see inflation coming down.” We’ll get to that point. The chair of the U.S. central banking board stated that there would be no hesitation in doing so.