Trump Admin Reacts to Consumer Confidence Plunging to Historic Low
By Gabe Whisnant and Andrew Stanton
White House press secretary Karoline Leavitt responded to a question on Friday regarding sinking U.S. consumer sentiment, which dropped for the fourth-straight month in April.
The University of Michigan's preliminary consumer sentiment index, released Friday, dropped 11 percent from the previous month to 50.8—its lowest level since the height of the COVID-19 pandemic. It also marks the second-lowest reading in data dating back to 1952, with April's figure falling below any level recorded during the Great Recession from December 2007 to June 2009. Over the past year, the index has plunged 34 percent, reflecting growing concerns among consumers.
The new figures come amid President Donald Trump's trade wars that have roiled global markets and fueled anxiety over possible job losses and inflation.
Leavitt was asked by a reporter Friday during a press briefing, "Why is American consumer confidence so low?"
She responded, "I think there is a great optimism in the economy and great reason for optimism for the American people. The president is trying to renegotiate the global trade agenda that has ripped off the American people for far too long.
Leavitt continued, "He [Trump] wants consumers to trust in him and they should trust in him. Look at what he did in his first term."
The press secretary pointed to declining inflation, along with lower energy and oil prices as potential signs for a future "economic boom."
"Trust in President Trump, he knows this is a proven economic formula," Leavitt concluded.
This is a developing news story and will be updated as more information is available.
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