Exploring the Public Perceptions and Consequences of the American 2022 Recession

Abstract

Starting from 2022, with two consecutive quarters of negative GDP, United States has by definition entered a recession. Previous research in this field has already pinned down the basic causes and the history of this recession, yet with the effects of it still unfolding, it’s important to understand the U.S. public perception on this topic, in order to better predict its future consequences. Using the method of online survey, this paper will seek to capture the working U.S. citizens’ economic identities and their opinion on the existing issues within the American economy, and how they should be remedied. Survey figures are generated for analyzation, in which participants will be grouped by their age and income, to better understand their difference in perspectives. The survey results indicate perceptions of lower class, middle class, and upper class American citizens, in regards to their perceptions on inflation, the Federal Reserve Bank, their own spending habits, and the Biden’s Administration’s response to address the current economic conditions.