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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowAmericans’ confidence in the economy slumped for the fifth straight month, to the lowest level since the onset of the COIVD-19 pandemic, as anxiety over the impact of tariffs took a heavy toll on consumer expectations for future growth.
The Conference Board said Tuesday that its consumer confidence index fell 7.9 points in April to 86, its lowest reading since May 2020.
The figures reflect a rapidly souring mood among consumers, most of whom expect prices to rise because of the widespread tariffs imposed by President Donald Trump. About half of Americans are also worried about the potential for a recession, according to a survey by The Associated Press-NORC Center.
How this gloomy mood translates into spending, hiring, and growth will become clearer in the coming days and weeks. On Wednesday, the government will report on U.S. economic growth during the first three months of the year, and economists believe it will show a sharp slowdown as consumers pulled back on spending after a strong winter holiday shopping season.
And, on Friday, the Labor Department will release its latest report on hiring and the unemployment rate. Overall, economists expect it should still show steady job gains, though some forecast it could show sharply reduced hiring.
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People voted for lower prices for food and gas and more jobs with decent salaries. Perhaps this is yet to come. However, people did not vote for anarchy, chaos, and economic terror which has rattled markets, sunk the dollar, and devastated greatness. And actually, one might ask, will the cuts to government effect substantial savings vis-a-vis services rendered. One might ask if safety of all citizens will truly be enhanced by the deportation of those living in the US illegally. Yes, one may well agree that those here illegally should be deported but those here legally should not be deported and if so, should be returned. Can US taxpayers really benefit from a massive tax cut to corporations,, some call this corporate welfare, that will benefit their stockholders and will not as proven in the past result in any substantial increase in manufacturing or sustainable jobs for those in need.
Anyone who paid any attention knew this would be four years of chaos, terror, and Trump seeking vengeance.
I just don’t understand how people forgot what they learned during his first term … so quickly.
Trump Tariff’s have driven consumer confidence to levels not seen since the world had a real crisis and not a manufactured one.
Are we Winning Yet?!?