Any American making under $250K feeling 'brunt' of Trump tariffs: Economic expert

Economic Sentiment & Spending Disparity - Almost two-thirds of Americans believe the US is heading in the wrong direction, largely due to economic concerns [1] - Corporate America reports a sound economy, with resilient consumer spending [2] - Moody's estimates that the top 10% of households drive nearly half of all spending, creating a K-shaped economy reminiscent of the 1980s [3][4] Inflation & Monetary Policy - The Federal Reserve faces challenges in managing interest rates due to the spending disparity between the top 10% and the rest of the country [5] - Inflation is expected to continue into the first quarter of 2026, potentially exacerbated by new tariffs on China, Canada, and Mexico [6] - The Federal Reserve is increasingly concerned about job losses, particularly in the manufacturing sector (car manufacturing, appliances), potentially outweighing inflation concerns [7] Political & Economic Divide - Most Americans think the economy is headed in the wrong direction, with significant partisan divisions (29% of Republicans vs 91% of Democrats) [8] - Partisanship reflects trust in specific ideologies, with non-hardcore supporters noting increased expenses in daily life, leading to shifts in shopping habits [9] - Tariffs disproportionately impact lower and middle-income brackets (under $250,000 per year) [10]