U.S. markets are riding record highs on optimism that consumers will keep spending. But confidence is weakening amid a stagnant job market and tariff-driven inflation. Cleveland Fed President Beth Hammack said markets remain bullish, yet consumer sentiment surveys show sharp declines, with households increasingly worried about their job prospects and rising prices. Since the end of the pandemic, consumers have proved to be the backbone of the American economy—much to the surprise of some of Wall Street’ ...