US consumer confidence falls to its lowest level in more than 12 years
📉 The Consumer Confidence Index fell sharply to 81.9 in September from 88.6, well below expectations near 89 and marking its lowest level since April 2014.
👷 The Expectations Index declined for a third straight month to 63.6. At the same time, the share of consumers saying jobs are plentiful fell to 23.6%, while those saying jobs are hard to get rose to 21.9%, signaling a weaker perception of the labor market.
🔥 However, 12-month inflation expectations remain elevated at 5.1–6.1%, while 68.4% of respondents expect interest rates to rise further.
🏦 The data reinforce concerns that US consumer growth is slowing, but they are not enough on their own to shift the Fed’s policy direction while price pressures remain persistent. Upcoming PCE and labor data will remain key for rate expectations.
#Macro $BTC
📉 The Consumer Confidence Index fell sharply to 81.9 in September from 88.6, well below expectations near 89 and marking its lowest level since April 2014.
👷 The Expectations Index declined for a third straight month to 63.6. At the same time, the share of consumers saying jobs are plentiful fell to 23.6%, while those saying jobs are hard to get rose to 21.9%, signaling a weaker perception of the labor market.
🔥 However, 12-month inflation expectations remain elevated at 5.1–6.1%, while 68.4% of respondents expect interest rates to rise further.
🏦 The data reinforce concerns that US consumer growth is slowing, but they are not enough on their own to shift the Fed’s policy direction while price pressures remain persistent. Upcoming PCE and labor data will remain key for rate expectations.
#Macro $BTC
