The engine that fueled the Biden economy is sputtering under Trump

 https://edition.cnn.com/2025/03/12/business/consumer-spending-trump-retail

Biden entered the White House in the depths of the pandemic and left office with strong economic growth, monthly job gains for the entirety of his presidency and the stock market at record highs. But he also presided over a steep rise in housing, child care and other household costs that contributed to Trump’s victory in 2024.

The Trump administration has said it’s trying to “turn back the economic plague unleashed by the Biden Administration.”

But American business leaders are now sounding the alarm about consumers freezing up, in part due to Trump’s policies. Consumer confidence last month registered its biggest monthly decline since 2021, according to the Conference Board’s Consumer Confidence Index. Airlines are warning that consumer demand for travel is slowing, and shoppers are buying less clothing, home decor and other goods.