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The University of Michigan reported that US consumer sentiment fell to a seven-month low in early February due to concerns about tariffs and rising prices. Consumers anticipate a 4.3% increase in prices over the next year and a 3.3% rise over the next five to 10 years. The decline in sentiment was observed across all political affiliations, with Republicans showing a decrease in confidence for the first time since August. Additionally, the job market is showing signs of slowing down, with it taking longer for unemployed Americans to find work. [Extracted from the article]

The article discusses President Donald Trump's threatened tariffs against Canada, Mexico, and China, which economists estimate would fall short of offsetting the cost of extending his expiring 2017 tax cuts. The combined tariffs would generate less than a third of the estimated $4.6 trillion needed over the next decade. There are concerns about the economic costs and potential retaliation from foreign countries due to the imposition of tariffs. The article also highlights the lack of consensus among GOP lawmakers on how to offset the cost of additional tax cuts. [Extracted from the article]

In December, US job openings decreased to 7.6 million, the lowest since September, indicating a gradual slowdown in the labor market. The decline was driven by professional and business services, health care, social assistance, and finance and insurance sectors. Despite the decrease in job openings, the Federal Reserve believes that the job market is no longer a source of inflationary pressure. Economists expect labor demand to continue cooling in the coming months, with hiring rates remaining low and people showing less confidence in finding new positions. [Extracted from the article]

The article from Bloomberg.com reports that US consumer sentiment declined in January for the first time in six months due to concerns about unemployment and potential tariffs impacting inflation. The final sentiment index dropped to 71.1, with consumers expecting prices to rise at an annual rate of 3.2% over the next five to 10 years. The labor market and political ideologies also influenced consumer sentiment, with Democrats becoming more pessimistic while Republicans grew more optimistic. Additionally, a separate report showed a decrease in the growth pace of business activity, although companies remain positive about the outlook. [Extracted from the article]

The US government is projected to surpass World War II debt levels by 2029, according to the Congressional Budget Office. The budget deficit for this year is estimated at $1.87 trillion, representing 6.2% of US GDP. The rising debt is attributed to factors such as Social Security and Medicare costs, along with increasing interest payments on the debt. Despite improved economic growth forecasts, the CBO warns of escalating deficits and debt levels that may require policy adjustments in the future. [Extracted from the article]

The US government is projected to exceed World War II debt levels by 2029, according to the Congressional Budget Office. Despite a slight decrease in deficit projections for the next decade, the total US government debt is expected to reach 107% of GDP by 2029, surpassing the previous record set in 1946. The rising debt is attributed to factors such as Social Security and Medicare costs, along with increasing interest payments on the debt. The CBO also anticipates a moderation in economic growth and a rise in unemployment rates in the coming years. [Extracted from the article]

President-elect Donald Trump's plan to reduce the federal workforce could disproportionately affect Black workers, potentially increasing Black unemployment rates, particularly in areas like Washington, DC. Historically, government jobs have provided economic stability for many Black families, offering access to benefits and job security. The proposed downsizing could have a significant impact on the Black community, leading to loss of income, benefits, and health insurance. The move to cut federal jobs comes at a time when the labor market is cooling, and minorities, including Black workers, are often the first to be affected during downturns. [Extracted from the article]