Tariff threats and uncertainty could weigh on consumers, drag down US economy, gov't report suggests
Ongoing tariff threats from Washington and potentially sweeping government job cuts have darkened consumers’ mood and may be weighing on an otherwise mostly healthy economy. Data released Friday showed that consumers slashed their spending by the most since February 2021,
Senate Democrats have been insistent about the problem of inflation with President Donald Trump in the White House, but they
spending, consumers
National Economic Council Director Kevin Hassett addressed the impact of DOGE dividend checks through cost cuts.
Ongoing tariff threats from Washington and potentially sweeping government job cuts have darkened consumers’ mood and may be weighing on an otherwise mostly healthy economy. Data
U.S. consumers cut back sharply on spending last month, the most since February 2021, even as inflation declined, though stiff tariffs threatened by the White House could disrupt that progress.
The central bank’s preferred inflation measure, released on Friday, climbed 2.5 percent in January from a year earlier, slightly lower than the previous reading of 2.6 percent but still well above the Fed’s 2 percent target. On a monthly basis, prices increased 0.3 percent, in line with December’s pace.
President Donald Trump is on the verge of slapping new tariffs on Canada and Mexico while doubling a levy on China, moves that would dramatically expand his push to revive domestic manufacturing, tap new revenues and rebalance ties with the biggest US trading partners.
Republicans, who got elected because of economic woes, claim that Democrats talking about inflation now is an “embarrassing display of fake outrage."
The Federal Reserve’s preferred inflation gauge cooled as expected in January; however, the good news came with another potential red flag for the US economic engine: Consumers pulled back their spending by the most in nearly four years.
Inflation in the Federal Reserve’s preferred price gauge eased in January after making steady increases throughout the fall. The personal consumption expenditures (PCE) price index increased by
Business are already feeling the brunt of Trump's tariff plans - they're costs are going up and new orders are suffering. Timothy Fiore, chairman of an ISM survey that tracks U.S. manufacturers, said the consumer price index and producer price index are "most likely going to to go up,
Some results have been hidden because they may be inaccessible to you
Show inaccessible results