Americans are increasingly pessimistic about the economy.

The Conference Board’s consumer confidence index fell to its lowest level since 2014, well below Wall Street’s expectations. Respondents’ views on the labor market and business conditions worsened between December and January, and they cited the rising cost of necessities such as groceries and healthcare.

The “K-shaped” economy remains divided between high- and low-income households. Nonetheless, Eric Teal, chief investment officer for Comerica Wealth Management, said he’s cautiously optimistic about the consumer in comments shared with Forbes Daily, noting that “tax benefits should be a tailwind in early 2026.”

Melinda Gates and Sam Altman are two of the first billionaires to speak out as backlash grows in the wake of Alex Pretti’s killing in Minneapolis. On social media, Gates called the killings of Pretti and Renee Good “unconscionable,” while the OpenAI CEO said in an internal Slack message that ICE agents in the city were going “too far,” according to the New York Times.

MORE: ICE agents have aggressively used pepper spray against protestors, including Pretti, and the government largely sources such chemical weapons from a small group of little-known companies. Safariland, owned by billionaire Republican donor Warren Kanders, remains the top supplier of pepper spray and tear gas to ICE and CBP through Quantico Tactical, a major federal distributor based in North Carolina. The firm has sold $4.7 million of tear gas and pepper spray to the agencies since January 2025.

Shares of major health insurance companies tanked Tuesday as the Centers for Medicare & Medicaid Services proposed keeping Medicare payment rates the same in 2027. Analysts expected between a 4% and 6% increase, but the news comes as President Donald Trump has publicly criticized insurance companies and claimed they are “making so much money.”

WEALTH ENTREPRENEURSHIP

There was a reordering in the ranks of the world’s 10 richest people Tuesday, with Jeff Bezos........

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