In September, consumer confidence in the U.S. took a nosedive, experiencing the largest drop since August 2021. The latest survey by the Conference Board shows that U.S. households are increasingly pessimistic, expecting a weaker job market, fewer job openings, and less overall growth in the near future.

“Challenges persist, but the evidence shows we’re heading toward a soft landing,” Yellen wrote shortly after the Federal Reserve made its most significant interest rate cut in over sixteen years. Her belief is not shared by the public.

The Chief Economist on The Conference Board, Dana M. Peterson, explained that people’s views of the current business and job market conditions have worsened. They are also more doubtful about future job opportunities, business growth, and income potential.

The most significant decline in confidence was seen among people aged 35 to 54. This group is now the least confident about the economy, while younger consumers under 35 remain the most optimistic. Additionally, confidence dropped across most income levels, but it hit those earning under $50,000 the hardest.

This drop in consumer confidence coincides with the Federal Reserve’s projection that unemployment will continue to rise through the end of the year. Unemployment has already increased by 1.4 million since its low in December 2022. In response to a “cooling” labor market, the Federal Reserve cut the Federal Funds Rate by 0.5 percent.

Inflation remains a top issue for U.S. households as incomes aren’t keeping up with rising costs, and unemployment continues to increase. Polling shows that the economy is at the top of the mind in the race between Vice President Kamala Harris and former President Trump, as both candidates lay out diverging economic visions for the future of the U.S. on the campaign trail.

The vice president has proposed raising taxes on large corporations and the wealthiest Americans to fund her policy initiatives.

On the other hand, Trump is advocating for extending the tax cuts from his first term, which are set to expire next year. He’s also suggested eliminating taxes on tips, Social Security, and overtime pay.

According to a New York Times-Siena poll conducted from September 11 to September 16, Trump is leading Harris 54 percent to 41 percent when it comes to handling the economy. Among men, Trump holds a 60 percent to 34 percent lead, and even among women, the race is close, with Trump leading 49 percent to 47 percent.

Hoping to improve her poll numbers, Harris is asking for another debate. Her campaign has agreed to a debate on CNN on October 23 and has called on Trump to participate. In July, Fox News invited both Trump and Harris to a debate in September, but that didn’t end up happening.

Republican vice-presidential nominee JD Vance replied to Vice President Kamala Harris’s challenge to debate Donald Trump on CNN. He pointed out that Harris had avoided the Republicans’ invitation to debate on Fox News before. Vance highlighted that “Donald Trump accepted a debate on Fox News, and Kamala Harris ran from it.”

Vance explained that Trump had already taken part in a challenging debate with CNN, even though the network didn’t favor him. Vance added, “Moderators fact checked him multiple times and didn’t fact check Kamala Harris when she said outrageous things.” Vance added a few weeks ago, American troops were almost killed in an attack by Iranian militias. Despite that, Kamala Harris claimed there are “no troops in active combat.” Vance asked, ” Where’s the fact check from ABC for that?” Meanwhile, Harris hasn’t faced that kind of tough situation yet. Vance clearly believes that Harris is unwilling to deal with a network that doesn’t favor her.