Wealthier households are evidently more anxious about the Trump White House’s aggressive trade strategy than middle and lower-income Americans.
Wealthier households are evidently more anxious about the Trump White House’s aggressive trade strategy than middle and lower-income Americans.
Families in the top third of U. S. incomes were the only ones to say they were less confident in the economy in March, according to second and final reading of the monthly survey on consumer sentiment .
These households cited “significantly greater concerns with government economic policies than last month, especially trade policies,” said Richard Curtin, chief economist of the University of Michigan survey.
Lower-income households were much more confident in March while middle-class families reported no change in how they viewed the economy or their own personal finances, the survey showed.
The results probably shouldn’t come as a big surprise. Richer Americans tend to be more heavily invested in the stock market, which tanked after the Trump administration said it would slap tariffs on foreign steel and up to $50 billion worth of Chinese goods.
