Trump has the lead on the economy and household finances
The unusual combination of falling consumer debt use and rising spending is likely a reflection of Trump administration coronavirus relief programs.
American optimism strengthened in May as coronavirus restrictions were relaxed and many areas saw infections and deaths decline.
Rep. Greg Murphy (R-NC) predicted it will take “a couple years” to get consumer confidence back after the coronavirus pandemic but said restarting the economy will be “a lot better because we kept the infrastructure in place.”
U.S. consumers continued to be confident about the present situation in March but their outlook for the near-term futures cratered.
This is one of the worst declines ever–and it is likely to get even worse in the months ahead.
The NFL hasn’t told its teams to start planning to play in front of empty stadiums due to the coronavirus, yet, but they have reportedly canceled a major annual event on their schedule.
Despite widespread uncertainty about trade policy, consumer sentiment improved in September from the August doldrums.
Consumer Spending Slows Sharply...
(Third column, 9th story, link)
PUMP: Fed Adds $71.7 Billion to Financial System in Latest Transaction…
Most Americans Completely Unprepared For Recession…
New data from the Consumer Price Index once again demonstrate that tariffs are not raising prices for consumers.
Claims that the China or metals tariffs are squeezing consumers lack any basis in fact, the most recent inflation data show.
Consumer sentiment improved from its April slump but fears that tariffs could raise prices pushed up inflation expectations.
U.S. consumers’ views of current economic conditions improved in April while expectations for the future faded a bit.
Consumer sentiment rose in December to a level so high for 2018 only two other periods have beat it in the past fifty-eight years, according to the University of Michigan.