Summary
Americans’ confidence in the economy fell to another record low in May as rising gas prices, inflation fears, and uncertainty linked to the war in Iran weighed heavily on households. The University of Michigan’s consumer sentiment index dropped to 44.8, the weakest reading since records began in 1952. Consumers worried that higher fuel and living costs would further strain personal finances, especially those of lower-income families. Inflation expectations also climbed, increasing pressure on the Federal Reserve as policymakers debate whether to raise interest rates again. Despite resilient stock markets and consumer spending, surveys show many Americans remain deeply pessimistic about the broader economic outlook.
Investopedia
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