UMich inflation expectations exploded even higher in preliminary March data with medium-term views spiking to +3.9% - the highest since 1993...
Source: Bloomberg
There's just one thing... it's all Democrats...
Republicans expect very little inflation over the next five years but Democrats expect a surge to +4.6%...
Source: Bloomberg
Short-term expectations are even more divided with Democrats expecting inflation to explode to 6.5% this year while Republicans expect no inflation...
Source: Bloomberg
Overall, consumer sentiment declined significantly...
Source: Bloomberg
UMich notes:
While current economic conditions were little changed, expectations for the future deteriorated across multiple facets of the economy, including personal finances, labor markets, inflation, business conditions, and stock markets.
Many consumers cited the high level of uncertainty around policy and other economic factors; frequent gyrations in economic policies make it very difficult for consumers to plan for the future, regardless of one’s policy preferences.
But once again, it was all Democrats, who are now convinced that the US outlook has never been worse...
Source: Bloomberg
According to Democrats, this is the apocalypse, folks.
No really, Democrat expectations for the economy have NEVER been lower, including the global financial crisis and COVID. For Democrats, this is the 10th circle of hell.
What's more, Democrats are boycotting spending to prop up Trump's economy, and instead are sitting on cash... which according to them will be worth 6.5% less in one year as a result of runaway inflation.
It appears legacy media propaganda works after all...
