“I think people are trying to figure out exactly why that sort of economic behavior is happening because it seems strange,” said Kyla Scanlon. “But in my opinion, I think all of these things are rational.”
Wall Street had been betting that higher oil prices will cause inflation. Now oil prices are dropping, and the leading theory is that cheaper goods could overheat the economy.
New survey data out today from The Conference Board shows that while consumer confidence ticked up this month, it still sits below the long-term baseline. One reason: higher prices.
The Supreme Court is set to rule on whether President Donald Trump’s tariffs are legal, while Trump has proposed sending $2,000 tariff dividends to consumers.