US Sentiment Drops, Price Expectations Soar on Tariffs
1 week, 2 days ago

US Sentiment Drops, Price Expectations Soar on Tariffs

Live Mint  

-- US consumer sentiment fell to a more than two-year low and long-term inflation expectations jumped by the most since 1993, illustrating growing apprehension about the economic impact from tariffs. The preliminary March sentiment index dropped to 57.9, the lowest level since November 2022, from 64.7 a month earlier, according to University of Michigan data issued Friday. As the scope of President Donald Trump’s tariffs policy broadens, consumers across the political spectrum have become increasingly concerned that the extra duties will eventually lead to higher costs. “Many consumers cited the high level of uncertainty around policy and other economic factors; frequent gyrations in economic policies make it very difficult for consumers to plan for the future, regardless of one’s policy preferences,” Joanne Hsu, director of the survey, said in a statement.

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