Headline (from the right-leaning Epoch Times—paywalled):
Consumer Confidence Tumbles as Inflation Expectations JumpAmericans grew uneasy about the economy in February as inflation expectations surged and consumer sentiment took its steepest dive in over two years.
Confidence among American consumers fell sharply in February, hitting a 29-month low, while long-run inflation expectations recorded their biggest monthly jump in 32 years, according to the latest University of Michigan consumer sentiment survey.
The data suggest that U.S. households are bracing for some uncertainty—possibly turbulence—which the Trump administration insists will be a short-lived “detox” period as tariffs and other policies take effect, and as government spending shifts to the private sector.
Inflation expectations are also rising. Long-run inflation projections climbed from 3.5 percent in January to 3.9 percent in February—the largest month-over-month increase since 1993. Short-term expectations rose as well, with year-ahead inflation forecasts jumping from 4.3 percent to 4.9 percent, marking the highest reading in 29 months and the third consecutive month of significant increases.
Despite these declines, the data suggest consumers are more concerned about the future than the present, as job market conditions and broader economic indicators remain relatively strong.
Trump has dismissed concerns about a downturn. He told reporters on March 11 that he does not believe a recession is coming “at all” and said that the country is “going to boom.”
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