The State of the Economy for October 2025

What does the latest Consumer Confidence Index reveal about the economy's true pulse amid a prolonged government shutdown?

In this episode, host Dana M. Peterson, Chief Economist and Center Leader of the Economy, Strategy & Finance Center, talks with Stephanie Guichard, Senior Economist of Global Indicators, both of The Conference Board, about the latest Consumer Confidence Index results and the ongoing federal government shutdown.

They discuss how Americans are feeling about the economy, inflation, and the job market; early signs for the 2025 holiday shopping season; and what the shutdown means for growth, data, and consumers.

Topics covered:

• Why consumer confidence is holding steady despite uncertainty

• Shifts in inflation expectations and buying plans

• Insights on holiday spending and tariff impacts

• The shutdown's effects on data, jobs, and GDP

• What to watch for as policymakers debate next steps

For more from The Conference Board:

• US Consumer Confidence

• Forecast for the US Economy

• Global Economic Outlook