US consumer sentiment fell to its lowest level since 2014, new data showed, as unexpectedly weak jobs figures and elevated energy prices rekindled Republicans’ midterm fears.
The White House has tried to staunch economic bleeding ahead of November through bond buybacks, promises of $5,000 checks, and — amid record fuel prices — a proposed diesel export ban.
“This whack-a-mole with particular prices is something the Biden guys tried,” a Bush administration economic adviser told The Washington Post: “It doesn’t solve the economic problem.” A Council on Foreign Relations expert added that a more enduring turnaround is “simply not something anyone can do in a month.”
A US Federal Reserve governor warned Monday that AI-related demand would add inflationary pressures in the months ahead.
