Samuel Tombs: Consumer confidence surveys have a calming effect on Federal Reserve monetary policy

ChainCatcher news, according to Golden Ten Data, Samuel Tombs of Pantheon pointed out that the University of Michigan Consumer Sentiment Index rose from 49.5 in June to 54.4, surpassing economists’ expectations of 50.5, but still below last year’s average level. He stated that the fall in inflation expectations has brought some relief to the Federal Reserve, although Chair Walsh’s hawkish remarks have not further suppressed expectations.

Meanwhile, workers “lack leverage”, meaning that the likelihood of wage growth rising due to the recent rebound in overall inflation is very low.