Bow to the Dow

The stock market ebbs and flows because of many things including, but not limited to, the consumer price index, inflation fears, and unemployment rates.
More accurately, the market reflects the outcome of expectations of what these numbers might be. If the numbers fall short of expectations, the market declines, and vice-versa.
I wonder who “They” are that decide what the economy should be doing? Doesn’t it make more sense for the market to reflect was is happening with the economy rather than what we think might happen?
But, then again, I’m just a humble regular guy. What do I know?