John Edgar Slow Horses
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- Apr 11, 2023
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'Buyer’s remorse': Trump’s consumer confidence drops below Biden levels
www.msn.com/en-us/money/markets/buyer-s-remorse-trump-s-consumer-confidence-drops-below-biden-levels/ar-AA1KBsMG?ocid=msedgntp&pc=HCTS&cvid=2caececba5d541baa0643eac1d5b7e6d&ei=89U.S. Consumers appear to be dreading their Trumpian future, according to the University of Michigan’s most recent Consumer Sentiment Index.
“Consumer sentiment fell back about 5 percent in August, declining for the first time in four months,” according to the report. “This deterioration largely stems from rising worries about inflation.”
The new release reveals that consumer confidence is down 13.7 percent from from summer of 2024, during former President Joe Biden's term. Even though confidence was higher under the last administration, voters voted Biden out of office, largely based on economic dissatisfaction at high prices.
The released reports noted "that consumers continue to expect both inflation and unemployment to deteriorate in the future, with “'ear-ahead inflation expectations. rising from 4.5 percent last month to 4.9 percent this month."
“This increase was seen across multiple demographic groups and all three political affiliations,” the report adds.
September and October may be the break out months on tariffs' increases and taxes on the consumer.
If so, MAGA better watch out.