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U.S. consumer sentiment at lowest point in 70 years, Justin Wolfers notes

U.S. consumer sentiment at lowest point in 70 years, Justin Wolfers notes
U.S. consumer sentiment falls to record low

Justin Wolfers highlights that consumer sentiment in the U.S. has reached its lowest point in 70 years of survey data. According to Wolfers, this level is even lower than during past wars, financial crises, and the pandemic.

Wolfers emphasizes that while economic conditions are a factor, diminished trust in how Washington is managing policy is also playing a major role in the decline.

Earlier this year, Wolfers noted that the U.S. budget deficit had reached 6 percent of GDP, a postwar high outside recessions or wars, in a previous report. He also joined a British program to discuss the U.S. economy, inflation, and the administration's economic performance, according to another appearance. These discussions provide context for his recent comments on declining consumer sentiment.

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