They are now talking openly about that coming true.
“Today’s report is another in a long line of expectation-busting gains on behalf of working Americans,” Jared Bernstein, the chairman of the White House Council of Economic Advisers, said in an email on Friday. “And with easing inflation, we’ve got wages handily beating prices, meaning more buying power. Importantly, confidence measures, including a 13 percent surge in January from the UMich survey, suggest that people are reliably starting to feel these gains.”
The narrative shift is also evident in the way Mr. Biden’s critics talk about the economy. Some have resorted to scouring recent data for any sign of weakness.
Alfredo Ortiz, the president and chief executive of the Job Creators Network, a conservative advocacy group, said on Friday that the jobs report was “not the home run that Democrats and the mainstream media claim.” He noted that “employment actually declined last month in the mining, quarrying, and oil and gas extraction industry. This economic sector lubricates the American economy and provides jobs to support a family on.”
Former President Donald J. Trump has gone further, suggesting that large recent stock market gains are a result of investors believing he will defeat Mr. Biden in November and return to office — a theory that few, if any, Wall Street economists endorse.
When asked on Fox Business Network on Friday why stocks were rising if the economy was bad under Mr. Biden, Mr. Trump replied, “Because they think I’m going to be elected.”