A recent report from the Commerce Department revealed that consumer prices rose by 2.5% in February compared to a year earlier, remaining unchanged from January's rate. When excluding the volatile food and energy categories, prices increased by 2.8%, higher than the previous month's increase of 2.7%. Inflation is still a significant concern for many Americans, despite a decrease from its peak in 2022. President Trump promised to address rising prices but the current yearly inflation rate is higher than it was in September, when it briefly hit 2.1%.

The Federal Reserve and most economists anticipate inflation to rise further this year due to the tariffs imposed by Trump. Even though Fed Chair Jerome Powell mentioned that the inflation from tariffs could be temporary, the economic outlook is uncertain given the rapid changes in White House policies.

Confidence in the economy has decreased since tariffs were implemented, with consumer and business sentiment declining. A survey conducted by the Pew Research Center revealed that 63% of Americans still view inflation as a significant issue.