Trump's 'On-Again, Off-Again' Tariffs Damaging US Standing, Says Economist Justin Wolfers As Americans Feel 'Miserable' In B-Minus Economy - State Street SPDR S&P 500 ETF Trust (ARCA:SPY)

Economic Assessment - The U.S. economy has been given a "B-minus" grade by economist Justin Wolfers, indicating concerns over inconsistent trade policies and a significant decline in consumer morale [1][2] - Wolfers suggests that while the economy is "not terrible," the B-minus rating reflects a generous view amidst "grade inflation" in economic discourse [2] Labor Market and Inflation - The unemployment rate has "drifted up" over the past year, and inflation remains above the Federal Reserve's targets, impacting household budgets [3] - The current budget deficit is characterized as "extremely large," which may be excessive for the current stage of the business cycle [3] Consumer Sentiment - Consumer confidence is reported to be near an "all-time low," indicating a disconnect between economic growth figures and the reality of rising costs and job security [5][6] - The prevailing sentiment among consumers is described as "miserable," driven by economic pressures despite positive headline growth [6] Market Performance - Major stock indices such as the S&P 500, Dow Jones, and Nasdaq 100 have shown year-to-date increases of 1.74%, 1.31%, and 3.24%, respectively [7]