US consumers are slowing spending and increasing savings 🇺🇸 Inflation is slowing for now likely because businesses are still selling inventory they bought before President Donald Trump embarked on his aggressive trade policy campaign. The inflationary effects of tariffs will likely be seem later this summer as tariffs were temporarily reinstated by a federal appeals court on Thursday.
In April consumer spending softened due to cutbacks on purchases of motor vehicles and parts, clothing and footwear as well as recreational goods and vehicles.
