Why it matters:
Since the start of his second term as U.S. President, Donald Trump, has sparked significant concern among American citizens. Alongside his controversial foreign policies, he has implemented domestic and economic measures such as firing thousands of federal employees and imposing unprecedented import tariffs.
By the numbers:
Recent surveys by 'The Conference Board,' a non-governmental trade consulting think tank, reveal a significant decline in the consumer confidence index for February.
- Sharp drop in willingness to buy and consume: American consumer confidence reaches its lowest level in eight months.
- Rising 12-month inflation expectations: Growing concerns about the negative impact of Trump administration's policies on the economy.
- Significant decline in The Conference Board's index: Dropped 7 points to 98.3 this month, marking the biggest decline since August 2021.
What he's saying:
chief economist at FWDBONDS (a financial market research firm), Christopher Rupke, indicated that the economy might come to a standstill in the first quarter of this year due to a significant decline in consumption.
Key points:
- 10,000 federal employees laid off as part of Trump's plan to shrink government and cut spending.
- Additional 75,000 employees offered buyouts and asked to voluntarily leave their jobs.
- Reason for layoffs include lack of funds to pay employees.
- Home prices rose 4.5% from Q4 2023 to Q4 2024.
Go deeper:
China TV Poll: Trump Administration's Performance in First Month Was Disappointing
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