Americans are feeling much better about the economy thanks to slowing inflation
CNN
Americans’ attitudes on the economy are improving substantially as inflation slows.
Americans’ attitudes on the economy are improving substantially as inflation slows. The University of Michigan’s latest consumer survey showed that consumer sentiment improved this month, soaring 13% from December, according to a preliminary reading released Friday. Sentiment reached its highest level since July 2021. “Consumer views were supported by confidence that inflation has turned a corner and strengthening income expectations,” Joanne Hsu, the university’s surveys of consumers director, said in a release. “Over the last two months, sentiment has climbed a cumulative 29%, the largest two-month increase since 1991 as a recession ended.” Inflation eased substantially throughout 2023 without a sharp rise in unemployment, which has helped perk up sentiment among US consumers in recent months. Still, it remains to be seen whether inflation could drift all the way to the Federal Reserve’s 2% target without interest rates staying higher for longer or triggering massive job losses. This story is developing and will be updated.
Former Barclays boss Jes Staley had sex with a member of serial pedophile Jeffrey Epstein’s staff, the banker said in court as he appeals against a proposed financial services ban.
It started with tariffs, but the trade war is quickly escalating beyond import taxes into a broader tit-for-tat battle.
Walmart is getting caught in the middle of an escalating trade war between the United States and China.
Intel has named a new chief executive, as the chipmaking giant attempts to recover from several bruising years that saw the one-time industry leader fall behind most of its rivals.
Two months ago, JPMorgan Chase CEO Jamie Dimon defended President Donald Trump’s tariff policy with a curt message: “Get over it.” But with stock markets lower and cracks appearing to form in the US economy, Dimon himself might not be over it.
The US Federal Trade Commission asked a federal court in Seattle on Wednesday to delay a September trial in its case alleging Amazon misled consumers over its Prime subscription service, citing “severe resource shortfalls in terms of both money and personnel.”
There may be some cracks forming in the egg market.
Ruth Marcus, who recently resigned as a Washington Post columnist after four decades, said she parted ways with the paper following a spiked opinion piece on the paper’s billionaire owner because her job is to tell readers “what I think, not what Jeff Bezos thinks I should think.”
CNN is tracking price trends for various household staples each month as new factors threaten to increase costs.
Inflation slowed in February for the first time in four months, but that progress may be short lived as President Donald Trump ramps up his trade war, which threatens to increase prices for Americans.
With his chaotic trade policy, President Donald Trump is digging himself into an economic and political hole so deep, it may prove impossible to climb out.
American consumers – and their wallets – are the engine of the economy. But they’re now showing the strain of inflation, President Donald Trump’s tariffs and a stock market plunge.
Elon Musk has secured a major win in India by signing two back-to-back deals to bring SpaceX’s Starlink satellite internet services to the country.