Consumer sentiment is often viewed as a leading indicator of economic conditions, yet public perceptions of the economy are diverging sharply from official statistics and economic forecasts.

The Federal Reserve Bank of Chicago, in collaboration with NORC at the University of Chicago, brought those who study the issue together to discuss the relationship between consumer sentiment and the current economy—and what might explain the differences between consumer sentiment and official government statistical data.

This event featured leading data experts alongside consumers, business executives, and nonprofit leaders to explore what’s driving consumer sentiment, how it has shifted over time, and which additional measures of economic health can deepen our understanding of lived economic conditions. Guided by noted economic commentator and author Kyla Scanlon, the discussion went beyond the headlines to examine what’s really shaping consumer perception and how it matters to the broader community.