Catherine Rampell

Yeah, it's totally related to the stock market.

And actually, if you look at like the University of Michigan consumer sentiment numbers, they broke out the share of people who talked about their personal finances deteriorating because of higher prices.

They broke it out for those who own a lot of stocks and those who own no stocks.

And as you can imagine, the people who do own stocks are...

much more copacetic, I guess.

Like they're mad about gas prices and they're mad about grocery prices going up because they are going up.

They're mad about all of those things, but then they look over at their 401k and they're like, meh, you know, maybe it's worth it.

Maybe it's worth the trade-off.

Whereas people who do not have those financial assets, who are lower income and

They can't just eat it on those higher gas prices or other higher prices that they're paying.

And they don't have that like nice little nest egg to think about.

So, yeah, you are seeing a divergence.

But in general, I mean, people are still pretty unhappy with the economy, even the people who are higher income.

They're just like less unhappy than the poorest people out there.

Yeah.

It's the prices that are charged by wholesalers.

I think that's a good role, like a good way to think about it.

And those prices are rising a lot.

And one reason why, as you point out, you know, is like, they're more likely to be dealing with the energy shock.

You know, it