This Just-Released Economic Indicator Spells Doom for President Trump’s Economy
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U.S. personal savings rate fell to 2.6% in April, the lowest level since June 2022, as Americans drain savings accounts faster than income grows, with core retail consumer spending up 5.7% year-over-year while personal income rose just 2.5%.
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Households are forced to spend beyond their incomes to maintain living standards amid elevated housing costs, insurance premiums, and utility bills, leaving less financial cushion for economic shocks before discretionary spending declines.
The stock market may be flirting with record highs, unemployment remains relatively low, and economic growth has avoided the recession many economists predicted. On the surface, that’s a recipe for optimism.
