💨 Abstract

In May 2025, five months into President Donald Trump's second nonconsecutive term, the U.S. economy faced significant shifts due to new tariffs, increased stock market volatility, and persistent inflation. Americans have become more pessimistic about economic growth. In response, consumers are boosting savings, switching to safer investments like high-yield savings accounts and bonds, and adjusting spending habits by opting for cheaper brands and reducing travel.

Courtesy: wtop.com

Summarized by Einstein Beta 🤖