According to The Kobeissi Letter, US consumer sentiment has plummeted to levels not seen since the 2008 financial crisis, dropping approximately 20 points to 57 over the last month. This decline is significant as it reflects heightened pessimism typically associated with economic crises or recessions, indicating that an economic slowdown is underway.

According to @KobeissiLetter, Washington DC has experienced a dramatic increase in unemployment filings, surging by 36% in one week to three times the 2024 average. Over the past six weeks, filings have risen by 55%, surpassing 2008 levels. This significant rise in unemployment filings could indicate potential economic instability, affecting consumer spending and business investments in the region.