Americans Are Slamming the Brakes on Spending Ahead of New Tariffs—Here’s Why It’s a Big Deal 💰 Something is shifting in the U.S. economy—and fast. As the White House doubles down on sweeping new tariffs, Americans are tightening their wallets like never before. From restaurant tabs to weekend getaways, even small indulgences are taking a hit as people brace for a potential economic squeeze. Data just released shows that consumer spending barely rose by 0.1% in February, following a sharper 0.6% drop in January. That might not sound like much, but in a consumer-driven economy, that’s a big red flag. What’s behind the pullback? Simple: uncertainty. With tariffs up to 20% set to hit imports across the board starting this week, the cost of everything from groceries to gadgets could skyrocket. People aren’t just reacting—they’re preemptively panicking. Personal savings rates are creeping up again, now sitting at 4.6%, as households try to buffer against looming price hikes. Even t...
Your go-to destination for the latest, most relevant news and updates in the USA and the world, delivered daily.