Consumer sentiment falls in May as Americans' inflation expectations jump after tariffs
1. Consumer sentiment index dropped to 50.8, second-lowest on record. 2. Year-ahead inflation expectations rose to 7.3%, long-term to 4.6%. 3. Tariffs are a major concern for consumers, influencing their economic outlook. 4. Fed Chair emphasizes controlling long-term inflation expectations related to tariffs. 5. A 90-day tariff pause between U.S. and China may impact future sentiment.