Americans fear an imminent recession. That may be enough to put us in one
CNN
A powerful force is dominating the Trump economy: Fear.
A powerful force is dominating the Trump economy: fear. About two-thirds (66%) of adults say they are pessimistic or afraid about the economy, according to new findings from a CNN/SSRS poll released Monday. Just 34% say they feel enthusiastic or optimistic. The overwhelming majority – 69% – consider an economic recession in the next year to be at least somewhat likely, including 32% who say it’s very likely. This sense of dread in the first 100 days of the second Trump presidency isn’t just a political problem for the White House. It’s also a psychological problem for an economy that requires consumer spending to stay afloat. This raises the risk of a recession becoming a self-fulfilling prophesy. Fear of a recession causes Americans to shop less and save more. Vacations aren’t booked. Cars aren’t purchased. Restaurants aren’t full. CEOs, worried about consumers hunkering down, do the same. They hire fewer and fire more. And that causes consumers to pull back even further, prompting even more layoffs.
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