April 14, 2025.
Tax War Erodes Confidence in the U.S. Economy
Consumer confidence in the U.S. is declining, with the University of Michigan’s confidence index dropping 11% in April to 50.8 points, the lowest since 2022. The trade war initiated by President Donald Trump has significantly pressured consumer sentiment. Surveys indicate that this decline is consistent across all age groups, income levels, and regions. Consumer confidence has fallen more than 30% since December 2024, raising concerns for the Federal Reserve and Wall Street regarding consumption and GDP growth.
The decrease in consumer confidence may make investors more cautious about risky assets, including cryptocurrencies. If the stock market continues to decline, INJ (Injective) could face downward pressure due to negative sentiment. For RNDR (Render), which is related to graphic rendering, there may be increased demand as consumers seek digital solutions. However, if the U.S. economy continues to weaken, investments in technology could be impacted, reducing RNDR's growth potential. As for FET (Fetch.ai), a platform for decentralized AI applications, it may struggle if consumer confidence continues to fall, but it could still maintain investor interest if businesses look for cost-optimization solutions. In summary, the impact of economic news could lead to significant volatility for INJ, RNDR, and FET, depending on investor reactions to the economic situation.