Institution: American consumers are more pessimistic about the cost of tariffs.

Credit reporting agency Experian said that due to tariffs exacerbating concerns about price increases, American consumers are feeling worse about their financial situation. Experian's data shows that out of nearly 3,000 people surveyed in May, 27% are pessimistic about their household financial situation in the next 12 months, which is higher than the 21% from the fourth quarter. "Pessimism has increased significantly," said Charlie Wise, Experian's global research and consulting director, in an interview, "There is a clear correlation between this pessimism and the uncertainty brought about by tariffs." Over half of the respondents stated that in the past three months, they have reduced their discretionary spending on dining out, traveling, and entertainment, while 23% said they have increased their emergency savings.