More bonus Briefing Book content this morning from Ryan Cummings and @nealemahoney.bsky.socialwww.briefingbook.info/p/asymmetric...

Asymmetric amplification and the consumer sentiment gap

How excess Republican partisanship contributes to the gap between economic fundamentals and consumer views on the economy

The University of Michigan's consumer sentiment measure, which currently sits in the high 60s, is about 13 points lower than one would predict based on economic fundamentals like the unemployment rate, inflation, stock market returns, and consumption.