Story perspectives

Experts Warn: Recession Looms as Consumer Confidence Plummets

4/14/2025

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Summary

Story summary

Rising prices and tariffs raise Elizabeth McDowell's concerns about a potential recession affecting consumer spending.
JP Morgan and Goldman Sachs warn of heightened recession risks, with consumer sentiment at its lowest since November 2022.
Maine's economy could mirror national challenges, particularly in tourism and dependence on Canadian imports.
Economists recommend increased spending and tax cuts as responses, though political polarization may obstruct effective measures.

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Story summary

Rising prices and tariffs raise Elizabeth McDowell's concerns about a potential recession affecting consumer spending.
JP Morgan and Goldman Sachs warn of heightened recession risks, with consumer sentiment at its lowest since November 2022.
Maine's economy could mirror national challenges, particularly in tourism and dependence on Canadian imports.
Economists recommend increased spending and tax cuts as responses, though political polarization may obstruct effective measures.