Here's a big reason why people may be gloomy about the economy: the cost of money
![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.](https://media.npr.org/assets/img/2024/02/28/gettyimages-1739426931-1--b14848396b99a36332876eca716fbdc32e7fa84c.jpg)
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.
(Image credit: Brandon Bell)
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