Consumer sentiment fell for the second straight month, dropping about 5% to reach its lowest reading since July 2024. The decrease was pervasive, with Republicans, Independents, and Democrats all posting sentiment declines from January, along with consumers across age and wealth groups. Furthermore, all five index components deteriorated this month, led by a 12% slide in buying conditions for durables, in part due to a perception that it may be too late to avoid the negative impact of tariff policy. Expectations for personal finances sank about 6% from last month, again seen across all political affiliations, reaching its lowest value since October 2023. Many consumers appear worried that high inflation will return within the next year. Interviews for this release concluded on February 4.
Checking in with the same consumer confidence research group.
The move will simplify tariffs on the metals âso that everyone can understand exactly what it means,â Trump told reporters. âItâs 25% without exceptions or exemptions. Thatâs all countries, no matter where it comes from, all countries.â
As he signed the order at the White House, Trump said he would follow Mondayâs action with announcements about reciprocal tariffs on all countries that impose duties on U.S. goods over the next two days, and said he was also looking at tariffs on cars, semiconductor chips and pharmaceuticals
I guess steel, aluminum, cars, microchips, and drugs are too cheap these days.
He added, âIf we donât make a deal with Canada, weâre going to put a big tariff on cars. Could be a 50 or 100 per cent because we donât want their cars. We want to make the cars in Detroit.â
LOL now you have congressman Mfume telling his supporters to beat people up in the streets. The left has the best clown show going in the entire world right now.
Economists had expected Wednesdayâs CPI report to show few signs of inflation cooling, but the indication that prices are actually picking up will likely keep the Federal Reserve from cutting interest rates anytime soon.
The inflation report shows a growing distance from the Fedâs 2% goal, and the case could even be made in favor of rate hikes.
If hopes for lower interest rates start dwindling, whatâs left?
Hope that freight rates are going to fall even lower?
Hope that labor costs are going to go down?
Hope that Trump wonât double the price of Honda Civics on a whim?
We will be lucky to hit the highwater marks left by Bidenomics.