2don MSNOpinion
Americans just feel like they can’t catch an financial break. You know the feeling. You go to the grocery store, you look at the prices and want to channel your inner Vince Lombardi: “What the [heck] is going on out here?
1don MSN
Inflation is headed in the wrong direction and Americans have grown more cautious about how much they spend — not a good omen for the U.S. economy.
Americans are increasingly anxious about their financial prospects, with a closely watched gauge of consumer confidence slumping to a 12-year low amid growing concerns about tariffs and inflation.
US consumer sentiment tumbled this month to a more than two-year low and long-term inflation expectations jumped to a 32-year high as anxiety over tariffs continued to build.
U.S. consumer spending rebounded in February amid rising prices for goods and services, which could amplify fears that the economy was facing a period of tepid growth and high inflation amid an escalation in trade tensions.
Consumers are “spooked” by the Trump administration’s trade wars, cuts to the federal government by the so-called Department of Government Efficiency and the recent stock market sell-off, said Bill Adams, the chief economist for Comerica Bank.
Explore more
Transactions are now faster than ever thanks to contactless payment methods and RFID-enabled cards, but they have also made it easier for criminals to gain access to your private information. Powerful RFID skimming devices have made it possible for cyber criminals to collect your personal card information without any physical contact,
Lululemon Athletica said on Thursday that economic uncertainty was dampening demand for its pricey athleisure apparel and U.S. tariffs on imports from China and Mexico had squeezed its forecast for the year.