The News
US producer prices dropped in April by the biggest margin in five years, new data showed, indicating that some firms have absorbed early costs brought on by US President Donald Trump’s tariffs.
But economists warned that higher prices are coming, which will trickle down to consumers: Walmart on Thursday said that its prices are expected to rise soon as its pre-tariff supplies diminish.
Americans are feeling increasingly jittery about the economy. Retail and home sales last month slowed sharply compared to March, when shoppers raced to make purchases ahead of Trump’s “Liberation Day” tariffs.
While markets have rebounded on news of US trade talks and the lowering of tariffs on China, recent polling suggests most people are concerned about a recession — an outcome JPMorgan Chase CEO Jamie Dimon said Thursday remains a possibility.