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Data: The Conference Board, DB Global Research; Chart: Axios Visuals

November's consumer confidence report showed the largest gap between the confidence of consumers under 35 and those over 55 in the history of the Conference Board's report.

The state of play: Younger people have typically had higher confidence scores, but that has changed in recent years, the data show.

  • The chart above shows the result of subtracting the monthly confidence score of respondents over 55 from those under 35.

What's happening: That's largely because older Americans have benefited much more from the current low interest-rate environment and gains from the stock market, Nela Richardson, investment strategist at Edward Jones, tells Axios.

  • "People at different ages are experiencing the economy differently," she says.
  • "If you’re under 35 you’re looking more likely at student loan debt and really high home prices, even if interest rates are low. If you’re older, you’re probably not as affected by student loan debt, and you’re probably not negatively affected by high home prices, though you might have a huge gain from home equity."

The bottom line: Richardson also points out that younger people are less willing to take on risk assets like equities and have missed out on much of the bull market, in part because of their albatross of student debt.

  • "Whereas every other form of debt — from credit cards to mortgages — actually have this wealth effect that makes you want to invest more and be part of the economy, student loan debt makes young people more risk averse, and it makes them more risk averse precisely at the time you should be taking on more risk assets."

Of note: December's consumer confidence report showed the gap between older and younger people shrinking and younger people growing more confident, but the difference remains below the historical average.

Go deeper: The consumer confidence gap shrank in November

Go deeper

Updated 22 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12 p.m. ET: 12,772,755 — Total deaths: 566,036 — Total recoveries — 7,030,749Map.
  2. U.S.: Total confirmed cases as of 12 p.m. ET: 3,269,531 — Total deaths: 134,898 — Total recoveries: 995,576 — Total tested: 39,553,395Map.
  3. Politics: Trump wears face mask in public for first time.
  4. States: Florida smashes single-day record for new coronavirus cases with over 15,000.
  5. Public health: Trump's coronavirus testing czar says lockdowns in hotspots "should be on the table" — We're losing the war on the coronavirus.
  6. Education: Betsy DeVos says schools that don't reopen shouldn't get federal funds — Pelosi accuses Trump of "messing with the health of our children."
52 mins ago - Health

Florida smashes single-day record for new coronavirus cases

Data: Covid Tracking Project; Chart: Axios Visuals

Florida reported 15,299 confirmed coronavirus cases on Sunday — a new single-day record for any state, according to its health department.

The big picture: The figure shatters both Florida's previous record of 11,458 new cases and the single-state record of 11,694 set by California last week, according to AP. It also surpasses New York's daily peak of 11,571 new cases in April, and comes just a day after Disney World reopened in Orlando.

Pelosi: Trump is "messing with the health of our children" with push to open schools

House Speaker Nancy Pelosi said on CNN's "State of the Union" Sunday that Education Secretary Betsy DeVos' aggressive push to fully reopen schools this fall is "malfeasance and dereliction of duty," accusing the Trump administration of "messing with the health of our children."

Why it matters: Trump has demanded that schools reopen as part of his efforts to juice the economy by allowing parents to return to work, despite caution from health officials that little is known about how the virus impacts children.