The economic atmosphere in the United States has changed drastically over the last six months. Ahead of last year’s close, the stock market tanked, consumer spending experienced a sharp decline, and prominent economists predicted that a recession was around the corner.
And now, in May, the US economy is working smoothly and steadily without any sudden changes. Nevertheless, the pessimism and uncertainty about the future are higher than they have been since the last economic crisis. Business confidence underwent a terrible shock earlier this year due to the US government shutdown and further dipped owing to escalating economic tensions between the US and China. The risk: an economy which appears stable but is working on a life support system provided by the Federal Reserve.