The Democrat rant that ‘the economic sky is falling’ seems to have fallen on deaf ears. The economy is slowly coming back after four years of inflation and slow job growth. The workforce participation rate is steady, but climbing slightly, and inflation is somewhat under control. We can all rejoice in the significant drop in gasoline prices.

On May 27th, CNBC posted the following headline:

Consumer confidence for May was much stronger than expected on optimism for trade deals

I love how when a Republican is in the White House, good news is always unexpected.

The article reports:

Consumer optimism got a much-needed boost in May on hopes for trade pace between the U.S. and China, according to a survey Tuesday.

The Conference Board’s Consumer Confidence Index leaped to 98.0, a 12.3-point increase from April and much better than the Dow Jones consensus estimate for 86.0.

Much of the positive sentiment, according to board officials, came from developments in the U.S.-China trade impasse, most notably President Donald Trump’s halting of the most severe tariffs on May 12.

“The rebound was already visible before the May 12 US-China trade deal but gained momentum afterwards,” said Stephanie Guichard, the Conference Board’s senior economist for global indicators.

May’s rebound followed five straight months of declines. Consumers and investors had grown sour on economic prospects amid the intensifying trade war that Trump has launched against U.S. global trading partners, with China a particular target.

I think all of us consumers feel optimistic when we don’t have to mortgage our house to buy a steak or fill up our gas tank.

The article concludes:

The present situation index increased to 135.9, up 4.8 points, and the expectations index posted a major surge to 72.8, a 17.4 point gain. Investors also showed more optimism, with 44% now expecting stocks to be higher over the next 12 months, up 6.4 percentage points from April.

Views on the labor market also improved, with 19.2% of respondents expecting more jobs to be available in the next six months, compared to 13.9% in April. At the same time, 26.6% expect fewer jobs, down from 32.4%.

Survey officials said sentiment improved across age, income and political affiliation, though noting that the “strongest improvements” came from Republicans.

Let’s hope Congress can pass laws that keep this going.