Bloomberg Talks Conference Board's Dana Peterson Talks Consumer Sentiment
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Dec 13, 2024 Dana Peterson dives into the intricacies of consumer sentiment amid economic challenges. She highlights the current state of confidence regarding employment and spending, juxtaposed with inflation's impact on daily expenses. The discussion also examines how the labor market is adapting to economic shifts and the differing experiences of asset owners versus those facing financial insecurity. Listeners gain valuable insights into the economic outlook for the coming year and the evolving landscape of consumer confidence.
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Consumer Confidence and Inflation
- American consumers feel positive about the job market and are willing to spend.
- However, inflation concerns consumers, as higher wages are offset by increased prices.
Adapting to the "New Normal"
- Consumers are gradually accepting the current economic conditions as the "new normal."
- This includes higher mortgage rates and overall price levels.
Robust Labor Market
- The labor market remains strong, with plentiful job opportunities and rising wages.
- Many companies are actively hiring or retaining their employees.