For a long time there weren’t any new jobs or wage growth because boomers weren’t retiring due to the 07’ financial crises. It took at least 5 years or more for things to really settle from that. Then the Fed never raised interest rates when they should have. Then they couldn’t lower them during the pandemic and had to print a bunch of money to dig the economy out of a hole and now we’re here.
They think the blue indicator means their headlights are on.