The U.S. economic recession: Is the U.S. economy slowly falling into an economic recession? Even Republicans are concerned about the impact of Donald Trump’s tariffs, according to investigations
Sentiment among U.S. consumers worsened further in May, with year-long inflation expectations soaring to the last seen level in late 1981 as concerns over the economic impact of President Donald Trump’s trade policy. The economy contracted for the first time in three years as businesses tried to outweigh the higher costs associated with tariffs. Retail sales were almost flat in April, Reuters reported.
“Consumers are obviously worried, and reading between the two lines is not only a worrying fact that price increases are rising, but many commodities may not be found, as the reduction in port activity means shortages means shortages may develop within months,” said Christopher Rupkey, chief economist at FWDBONDS.
“The outlook continues to darken, and people want to know how long this can last before the economy really slips to the brink of a recession,” Rupkey said.
A survey of consumers by the University of Michigan showed a significant drop in morale among Republicans, suggesting that even Trump’s bases are increasingly paying attention to the president’s widespread tariffs, and this week retail giant Retail Giant Walmart warned that Walmart would start raising prices by the end of the month due to higher import and export costs.
This is the first time that Republicans have stood out among Republicans since Trump’s election victory on November 5. The continued decline in overall sentiment and inflation expectations suggest that layoffs on consumer spending may be underway, which could ease economists’ expectations for a rebound in economic growth this quarter.
FAQ
Q1. Who is the President of the United States?
A1. The president of the United States is Donald Trump.
Q2. Which university surveyed consumers?
A2. The University of Michigan has conducted a survey of consumers.
