Americans Continue To Worry About Their Economic Futures; Meanwhile U.S. Federal Reserve Chair Confirms Tariffs Will Raise Consumer Prices

Consumer confidence has dropped for the fourth straight month as American families continue to grapple with rising prices on household goods. Analysis from The Conference Board found that consumer confidence dropped for the fourth consecutive month to the lowest level seen in the past 12 years.

“[C]onsumers’ optimism about future income—which had held up quite strongly in the past few months—largely vanished, suggesting worries about the economy and labor market have started to spread into consumers’ assessments of their personal situations,” noted The Conference Board.

The new report from The Conference Board comes as U.S. Federal Reserve Chairman Jerome Powell warned in a recent press conference that inflation is expected to rise due to tariffs.

As CNBC reported, Powell noted that “a good part” of the Federal Reserve’s elevated inflation estimate “is coming from tariffs.” Powell added, “I do think with the arrival of the tariff inflation, further progress may be delayed.”

There is strong consensus among lawmakers, economists and business leaders that tariffs drive consumer prices higher. Americans tasked the new administration and Congress to lower inflation and high prices, but data continues to show they’re still waiting for leaders in Washington to deliver on their promise.

Read the full analysis on U.S. consumer confidence from The Conference Board here.