American Consumers Pressured as Rising Prices Erase Tax Refunds

consumers are reportedly facing increased financial pressure as tax refunds peter out. Economists and executives are warning that this cash crunch comes as fuel costs related to the Iran war impacts the economy, the Financial Times (FT) reported Monday (May 25). According to the report, tax refunds from President Donald Trump’s budget legislation, averaging close to $3,500 per return, have let Americans continue to spend.