US Consumers Expect Rising Inflation Amid Tariff Concerns

U.S. consumers are increasingly anxious about rising inflation, with expectations for the next year reaching 3.6%, the highest since the pandemic. The Federal Reserve's recent survey indicates a growing pessimism about personal finances and job prospects, as nearly half of respondents believe the unemployment rate will worsen. Concurrently, President Trump's tariff policies are contributing to concerns over price increases, with a significant majority of Americans expecting the tariffs to lead to higher costs for goods and services. Polls reveal that while many disapprove of Trump's trade approach, they support the goals of returning manufacturing jobs. Economists caution that these tariff-induced price hikes may further strain consumer spending and slow economic growth, with many believing the tariffs will negatively impact the economy in both the short and long term. Overall, the combination of inflation expectations and tariffs is creating a challenging economic environment for American households.