As President Trump reaches his 100th day in office, the U.S. economy shows signs of trouble, with slowing growth and declining consumer confidence. Economic indicators suggest the first quarter of the year will demonstrate a significant decrease in GDP compared to the prior months. This downturn coincides with Trump's new trade policies, causing businesses to increase imports before tariffs took effect. Forecasters note that consumer confidence has dropped consistently over five months, raising concerns about potential recession as spending slows and uncertainty haunts decision-making.
"Consumers continued driving the train but with much less gusto than they have been up until now," said Mark Zandi, chief economist at Moody's Analytics.
"At the end of the day, recession is about a loss of faith," Zandi said. "Consumers lose faith that they're going to be able to hold onto their job, and they cut back on spending and we go into recession."
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