Americans are losing confidence in the economy, driven primarily by worries over Trump’s tariffs and Inflation
Stock market fell, consumer confidence is down , almost 2/3 of Americans feel Trump isn't doing enough to boost the economy, but, hey we're going to ruin the US image abroad by stopping humanitarian aid to poor countries and by betraying Ukraine and giving chunks of it to a murderous dictator. What a fine time to be alive !
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US stock markets fell sharply Friday after an economic report showed American consumers are growing increasingly fearful of price increases and how President Donald Trump’s tariffs could reignite the inflation crisis.
The Dow Jones Industrial Average fell 748 points, or 1.7%. The broader S&P 500 also sank 1.7% and the Nasdaq was 2.2% lower. The Dow tumbled for the second consecutive day, falling about 1,200 points over the course of Thursday and Friday.
The University of Michigan’s latest survey , released Friday, showed that US consumer sentiment declined in February for the second consecutive month, according to a final reading, down by a steep 10% from January. That was double the decline initially reported earlier this month.
The survey found that Americans are losing confidence in the economy, driven primarily by worries over Trump’s tariffs potentially jacking up prices.
A new CNN poll released Thursday similarly showed pessimism on the rise because of prices: Nearly two thirds of US adults nationwide, 62%, said they feel Trump isn’t doing enough to address inflation. The Michigan survey showed that Americans are now fearful of higher inflation on the horizon.
Investors grew fearful that weak consumer sentiment could lead to a pullback in Americans’ shopping habits. Consumer spending makes up more than two-thirds of the US economy.
Although there’s no evidence that a recession is anywhere on the horizon, economic data has weakened in recent months. Job growth has fallen off over the course of the past year as employers wait to see what the Trump administration’s economic policy will bring – particularly around tariffs, which could severely dent companies’ bottom lines. Housing continues to slow down: a National Association of Realtors report Friday shows that sales of existing homes fell 4.9% in January from the previous month, while prices shot up to a record high for the month, exacerbating America’s home affordability crisis.
And retail sales have dropped recently, too.
Walmart warned Thursday that its sales and profit growth will slow this year – a surprise to many on Wall Street who bet that Walmart’s low prices on essentials would continue to ignite the company’s stellar growth over the past several years, even during the worst of the inflation crisis.
The retailer blamed consumer fears over rising prices and tariffs for its lackluster growth forecast. That was echoed by Monday’s University of Michigan survey, which found the drama surrounding tariffs has affected Americans’ perception of prices: Expectations for inflation in the year ahead surged this month to 4.3%, according to the Michigan survey, up a full percentage point from January to the highest level since November 2023.
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Trump has no "plan" to boost the economy, he has his own diseased self-image to rely on.
We don’t need no stinking plan.
Amazing sentiments, one month into his Presidency.
Amazing
Not that long ago...maybe 4 years ago, when inflation started creeping up quite a bit each month, the left screeched that it was transitory and it will only be up a short time. When that short time passed, we were told to give it time.
Four years later it is still higher, and going up again, then when Trump left office the first time.
Only the triggered will blame a president for everything gone wrong during his predecessor's term.
I thought Trump was supposed to restore consumer confidence immediately . He's going in the wrong direction.
Maybe renaming Greenland to Magadonia will help.
Yes because this has everything to do with what I posted.
What is the cycle this university uses to come to its numbers? It is only February 22, so they had to have finished their survey sometime in the beginning of the month. At that time, Trump was probably in office a whole two weeks, so these numbers more than likely reflect from early January to early February.
Also, the story is from CNN, not exactly a bastion of truth.
That is all on your dementia boy Biden and his DEI hire VP.
And you’re baggin on Trump after a month? Ridiculous!
Your comment is just triggered nonsense.
Nothing more.
More hysterical hyperbole, along with a big heaping helping of fearmongering.
I posted this two days ago thinking we would see this in a few months.
Never did I think it would be 2 days, but I'm not surprised..