1444 ET - Job cuts from the Department of Government Efficiency's work could further sink consumer confidence, ON Semiconductor Chief Executive Hassane El-Khoury says. Consumers are still holding their breath before making big purchases on computers and cars as they wait to see what the Trump administration will do to the economy, El-Khoury says. The fear that layoffs are striking among federal workers could dampen spending, and if there is a surge in unemployment, Americans' spending might not recover. "Imagine you're in the federal government and you know that there's something that's going to happen. Whether you're impacted or not is irrelevant. You're going to go on a freeze." (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
February 25, 2025 14:45 ET (19:45 GMT)
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