How bad has the cost-of-living squeeze become for Americans?

Mike Armstrong and Paul Lane wonder just how bad the cost-of-living squeeze is getting for Americans. Why do many people not believe the economy data that shows wages haven risen higher than inflation? President Biden wants corporations to 'stop the price gouging', but it seems like most companies are not price gouging. Investors see interest-rate cuts coming soon, recession or not. Value stocks looked like they were making a comeback, until the AI madness happened. Microsoft needs a better seat at OpenAI's table.