US consumer sentiment hits lowest level since November

U.S. consumer sentiment fell to 57.9 in March, the lowest since November 2022, down from 64.7 in February. This decline was sharper than the expected drop to 63.1, reflecting growing concerns about inflation and economic policies. Inflation expectations rose, with consumers anticipating a 4.9% increase over the next year, the highest since November 2022. Concerns about tariffs and trade tensions contributed to this sentiment, affecting consumers across all political affiliations. The Federal Reserve is expected to maintain interest rates between 4.25% and 4.50% at its upcoming meeting. Economists note that rising inflation expectations may challenge the Fed's view on the impact of tariffs on long-term prices.