US Consumer Confidence Plunges to Lowest Since 2014 Amid Economic Concerns

• US consumer confidence sharply declined in January, reaching its lowest level since May 2014, according to The Conference Board.
• The consumer confidence index fell 9.7 points to 84.5, even below COVID-19 pandemic lows, driven by concerns over financial prospects.
• Short-term expectations for income, business conditions, and the job market tumbled to 65.1, signaling a potential impending recession.
• Inflation, including gas and grocery prices, tariffs, politics, and the labor market, were key concerns for respondents.
• Perceptions of the job market worsened, with fewer consumers seeing jobs as "plentiful" and more finding them "hard to get".

Why It Matters: Americans' confidence in the US economy and job market has significantly dropped to a decade low.