americans use “liberal” to only mean socially liberal, however liberal describes both economic and social philosophies

Liberalism is a political and moral philosophy based on the rights of the individual, liberty, consent of the governed, political equality, right to private property and equality before the law.

— https://en.m.wikipedia.org/wiki/Liberalism

economic liberals are all about the free market, social liberals are all about human and civil rights (among many other things)