‘I just don’t have a good feeling about this’: Top economist Claudia Sahm says the economy quietly shifted and everyone’s now looking at the wrong alarm

February 6, 2026

By Eleanor Pringle – Fortune

Analysts’ favorite gauge of the U.S. economy’s health comes from data. And at the moment, the numbers look okay…ish. Hiring is down, but unemployment hasn’t spiked. Inflation isn’t ballooning (as feared) because of tariffs, and consumer spending is holding up remarkably well.

So why does reality feel so gloomy?

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‘I just don’t have a good feeling about this’: Top economist Claudia Sahm says the economy quietly shifted and everyone’s now looking at the wrong alarm

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