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Americans expect fuller wallets in 2025, according to a new survey from WalletHub.

Why it matters

The US economy has experienced the strongest recovery from the coronavirus pandemic among major industrialized nations. From today’s perspective, things are looking much better than they were a few years ago: annual inflation is approaching the Federal Reserve’s 2 percent target without triggering a recession, with recent interest rate cuts contributing, as well as consumer spending and the employment rate remain relatively strong.

While markets reacted positively to the election of Donald Trump in November and experts predicted further growth on a solid basis, there is still some uncertainty about some potential fiscal policy measures envisaged by the new Republican administration, such as: B. Tariffs, mass deportations and corporate policies and personal tax cuts.

What you should know

According to the survey, conducted with 220 nationally representative respondents, 66 percent said they believed 2025 would be better for their wallets than 2024, while 20 percent said they would be worse off and 14 percent said they expected their financial situation to remain the same.

Of those who made financial and money resolutions for the New Year, 41 percent said they wanted to save more and 21 percent said they wanted to spend less. Twenty percent said they would like to make more money this year, while 11 percent said they wanted to work harder toward paying off existing debt.

Still, everyone who strives for a better future will have a broader economic impact. Inflation is by far the biggest concern: 56 percent of Americans say it is their biggest financial worry heading into the new year.

Other potential financial downturns, such as a recession, a stock market decline or a housing downturn, all reached less than 20 percent, while the prospect of job loss and unemployment was a worrying factor for 8 percent.

What people have said

David Mericle, chief U.S. economist at Goldman Sachs Research: “The US economy is doing well. Recession fears have subsided, inflation is trending back towards 2 percent and the labor market has rebalanced but remains strong.”

Gregory Daco, chief economist at EY-Parthenon: “The U.S. economy remains on a solid growth trajectory, supported by healthy employment and income growth, robust consumer spending and strong productivity momentum that is helping to contain inflationary pressures. We expect this positive momentum to continue into 2025, allowing the Fed to undertake a gradual, but cautious, policy recalibration.”

What’s next?

Expert panel forecasts suggest there is general optimism for the U.S. economy in the coming year. On the bright side, Goldman Sachs said there is only a 15 percent chance of a recession in 2025 and that the economy will grow at an annual rate of 2.5 percent.

However, analysts at Deloitte have pointed out that while the economy will grow in 2025, the outlook is uncertain due to the possibility of “harmful tariffs” as well as “significant deportations” and “sweeping cuts in government spending,” although these are expected not that such measures are “implemented in their most maximalist form”. Both have pointed out that inflation is likely to remain above 2 percent in 2025.