Consumer sentiment tumbled in early August, according to the University of Michigan survey. July retail sales were down more than half a percent from June, and AAA reports the nationwide average gas price neared a record high for August.
According to a survey by the National Association for Business Economics, businesses have raised prices, become more efficient, and are no longer worried about an impending recession.
Inflation, housing costs, and job uncertainty are leading Americans to rethink what success looks like — and what they're willing to sacrifice to achieve it.