June 15th, 2025
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In June, consumer confidence went up for the first time in six months, showing a more positive view of the economy. This happened because inflation stayed steady and the Trump government made a temporary trade deal with China. A first report from the University of Michigan's consumer confidence index showed that it went up by 16%, from 52.2 to 60.5. However, it was still 20% lower than in December 2024. This increase came after President Trump decided to put off new taxes on goods from about 60 countries and made a short-term agreement with China. This helped to reduce some of the economic worries caused by the big trade war. Even with these good changes, US taxes on imported goods are still high compared to past times and are expected to affect the economy more in the next few months. People's feelings about the economy are still split by politics, with Republicans feeling more positive about the economy under Trump than Democrats. But this month, confidence generally increased among supporters of both parties and those who don't support a specific party. The Federal Reserve will probably see the drop in what consumers expect for inflation as a good sign in their next meeting.
June 15th, 2025
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