The U.S. economy appears to be growing rapidly, unemployment is sitting near historic lows, layoffs are almost nonexistent, and employers are adding hundreds of thousands of new workers to their payrolls.
But American consumers are not feeling any of it.
Consumer sentiment fell in recent weeks to a new record low on concerns about rising prices.
The preliminary May sentiment index dropped from the previous record low to 48.2 from 49.8 in April, according to the University of Michigan.
“While the expectations index inched up, current conditions fell back about 9 percent, owing to a surge in concerns about high prices both for personal finances as…
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