Trump DOJ Fights Judge on Returning Wrongly Deported Man
“Consumers report multiple warning signs that raise the risk of recession: expectations for business conditions, personal finances, incomes, inflation, and labor markets all continued to deteriorate this month,” the University of Michigan said in a statement.
Sentiment among consumers is down 11 percent from March, and the decline was “pervasive and unanimous across age, income, education, geographic region, and political affiliation,” wrote survey director Joanne Hsu. Sentiment is also down 30 percent from December, before Donald Trump took office and tanked the hopes of millions of consumers desperate for affordable groceries and sustainable livelihoods.
Since taking office, Trump has spurred economic mayhem in the United States and abroad with his relentless flip-flopping on tariffs and perverse trade policy. On his so-called “Liberation Day,” Trump used national emergency powers to enact tariffs ranging from 10 to 60 percent on more than 90 nations, including an 84 percent tariff. A week later, he announced a 90-day reduction on most of the tariffs while ramping up those on China, leading to some of the most volatile fluctuations financial markets have seen in decades—not exactly the best way to gain consumer trust.