misery index

A home available for sale is shown in Austin, Texas, on Oct. 16, 2023. Former Treasury Secretary Larry Summers argues the consumer price index may understate the pain of rising interest rates, such as higher mortgages.

Economy
Politics & Government

Here's a big reason why people may be gloomy about the economy: the cost of money

5:56pm February 28, 2024

by Scott Horsley

Former Treasury Secretary Larry Summers argues that high interest rates are contributing to people's gloomy economic mood. Sentiment may improve, though, if the Federal Reserve begins to cut rates.

Construction workers in Washington, D.C., in December. The latest jobs report will further drive the "misery index" to its lowest level in more than half a century. But economists say meager wages and big debts are still problems.

National
Economy
Politics & Government

More Jobs, Less Inflation Drive Down 'Misery' — So Where's The Joy?

9:22am March 07, 2015

by Marilyn Geewax

With unemployment dropping, the "misery index" is at its lowest level in more than 50 years. So why aren't Americans feeling cheerful? Economists say meager wages and big debts are still problems.