June 15th, 2025
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In June, people felt more positive about the economy for the first time in six months. This was because inflation stayed stable, and the US made a temporary trade agreement with China. A report from the University of Michigan showed that consumer confidence went up by 16%, from 52.2 to 60.5. However, it was still 20% lower than in December 2024. This improvement happened after President Trump decided to delay new taxes on goods from about 60 countries and made a temporary agreement with China. This helped to reduce some of the economic worries caused by the trade war. Even with these good changes, US taxes on imported goods are still high compared to the past, and they are expected to affect the economy more in the coming months. Also, consumer confidence is different depending on political views; Republicans feel more positive about the economy under Trump than Democrats. But this month, people from both parties and those who are independent felt more confident. The Federal Reserve will probably see it as a good sign that consumers expect prices to rise less in the future.
June 15th, 2025
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