WASHINGTON (AP) — Ongoing tariff threats from Washington and potentially sweeping government job cuts have darkened consumers’ mood and may be weighing on an otherwise mostly healthy economy.
Data released Friday showed that consumers slashed their spending by the most since February 2021, even as their incomes rose. On a positive note, inflation cooled, but President Donald Trump’s threats to impose large import taxes on Canada, Mexico, and China — the United States’ top trading partners — will likely push prices higher, economists say. Some companies are already planning to raise prices in response.
Americans cut their spending by 0.2% in January from the previous month, the Commerce Department said
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