Business
Soaring stock market defies broader US economic doldrums
CEI senior economist Ryan Young gave comment to the Washington Examiner regarding consumer bias in stock markets.
Ryan Young, a senior economist at the Competitive Enterprise Institute, said consumer sentiment is pessimistically biased and not necessarily always tied to economic stagnation.
“And I think the fact that it’s cratered to record lows is more an indicator of how people feel about politics rather than about their personal financial conditions,” he told the Washington Examiner.
And despite the gains in the stock market, Young said the U.S. equities market underperformed foreign markets last year.
“So the U.S. did well, but in relative terms, we’re actually falling behind international markets,” Young said. “We had a 16% return; international markets had a 29% return, so the U.S. could and should have had an even better year.”
Many say, though, that the AI boom in the markets has some more room to run.