Consumer Expectations Crater to Three-Decade Low

“Just three months into President Donald Trump’s second term, Americans’ confidence in the economy’s prospects is plunging,” Politico reports.

“The University of Michigan’s closely watched index for consumer expectations has dropped by 32 percent since January, the sharpest three-month decline since the U.S. was rocked by a recession in 1990.”

“The survey is the latest warning sign that the economy could enter a recession as Trump and top administration officials attempt to negotiate dozens of new trade agreements against a backdrop of sky-high tariffs. Polls taken by Gallup and Reuters/Ipsos have the president firmly underwater with regard to the economy, and economists say the trade war could simultaneously cause growth to stall and prices to soar.”