US Consumer Confidence Falls to Four-Year Low Amid Inflation Fears

U.S. consumer confidence has dropped to its lowest point in over four years, according to the Conference Board, with the Consumer Confidence Index falling 7.2 points to 92.9 in March. This decline reflects heightened fears of recession and inflation, exacerbated by ongoing trade policies and tariffs from President Donald Trump's administration. The survey indicated a significant drop in future expectations, hitting a 12-year low, which is often associated with recession risks. The decline was particularly pronounced among older Americans and middle-income households, while younger consumers showed slight improvement. Economists attribute this downturn to the chaotic economic environment and rising inflation expectations, now averaging 6.2 percent. The sentiment shift is mirrored by a similar decline in the University of Michigan's consumer sentiment measure, indicating a widespread unease about the economy.