After the Supreme Court struck down IEEPA tariffs, the administration imposed a 10% baseline tariff under Section 122. Economists estimate the cost at $2,512 per average household annually.
February CPI came in at 2.4% year-over-year, matching January. But surging oil prices and rising PCE inflation suggest the disinflationary trend may be reversing.
The Bureau of Labor Statistics reported 92,000 job losses in February as government layoffs deepened and hiring slowed across multiple sectors.
The University of Michigan Consumer Sentiment Index fell to 57.9 in March, its lowest level of 2026, as Americans grow worried about energy costs, employment, and geopolitical instability.
The Bureau of Economic Analysis revised Q4 2025 GDP growth down to 0.7%. With government shutdowns and weak consumer spending, recession risks are rising.