A chart shared Friday by The Washington Post’s economic columnist Heather Long hinted at bad news for the economy, with U.S. households growing increasingly concerned that they’ll be financially worse off a year into the future than they are now. The chart was released by the University of Michigan as part of its consumer sentiment surveys.
“Under Trump 2025, people at all income levels are worried they will be worse off in a year. This is the type of situation that causes people to really pull back on spending. This is what is different than 2023 or 2024.”
A report by the University of Michigan’s survey of consumers in February forecasted similarly bad news for the American economy. Last month, inflation expectations jumped an entire percentage point, from 3.3 percent in January to 4.3 percent in February, marking the second consecutive month of “unusually large increases,” according to the university report.
More than half of the surveyed respondents expected unemployment to rise over the next 12 months—the most people to believe so since 2020—while 40 percent of consumers “spontaneously mentioned” Trump’s tariffs “generally unfavorably,” according to the report.
“Overall, inflation expectations are trending in an unfavorable direction,” the report noted, adding that “expectations matter because consumers have shown that they will act upon them.”
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