Episode Details

Consumer sentiment took a sharp dive in August, plummeting eight percent as rising gas, energy, and food prices hit wallets hard—after a brief uptick. Businesses aren’t faring better: short-term outlooks fell 11 percent, long-term dropped 17 percent, with Republicans hit hardest since the election. Older, lower-income, and less-educated Americans feel the squeeze most, with just 8% now expecting their income to outpace inflation—down from 18% last December. Inflation forecasts jumped to 4.3%, fueled by recent global tensions, while retail sales slumped 0.6% in July—the worst since May 2023. Gas prices climbed to $4.08 a gallon, up from last month and sharply higher than a year ago. With no clear horizon, everyday costs are making future security feel more uncertain than ever.

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