Economic blackout: Did Americans stop spending for a day?

NEW YORK: An “economic blackout” promoted on social media was underway Friday but with no clear indication of how many people took part or whether national retailers and restaurant chains noticed any effect from the grassroots protest. “If you get 5% or 10% of the people that don’t shop, that could happen on any given day because of the rain.” Other groups and individuals are organizing longer boycotts to protest companies that have reduced their diversity, equity and inclusion initiatives, and to oppose President Donald Trump’s moves to abolish all federal DEI programs and policies. Who’s behind the ‘24-hour Economic Blackout?’ The People’s Union USA, which takes credit for initiating the no-spend day, was founded only recently by John Schwarz, a meditation teacher who lives in the Chicago area, according to his social media accounts. The New York Times reported Friday afternoon that a biography in the “Meet the Founder” section of the website omitted information about Schwarz that many potential donors would have found off-putting: in 2007, a Connecticut judge sentenced him to 90 days in jail and five years’ probation for disseminating voyeuristic material. Some retailers may feel a slight pinch from Friday’s broad “blackout.” Renewed inflation worries and Trump’s threat of tariffs on imported goods already have had an effect on consumer sentiment and spending.