In recent months, the Federal Reserve has been closely monitoring Americans’ confidence in whether inflation will eventually return to the levels they are accustomed to. Despite disappointing inflation reports causing volatility on Wall Street, Americans have not felt any better or worse about the economy.
According to Joanne Hsu, director of Surveys of Consumers at the University of Michigan, consumer sentiment has remained largely steady for the fourth consecutive month due to few significant developments in the economy. Consumers are delaying judgment on the economy due to the upcoming election, which many believe could have a significant impact on economic trajectory.
Despite this, US consumers’ expectations for inflation rates increased slightly in April. The Federal Reserve is paying attention to whether Americans believe inflation will return to normal levels. The story is developing and will be updated as more information becomes available.
