Bloomberg Talks The Conference Board Chief Economist Dana Peterson Talks Consumer Report, Worries on Prices & Inflation
Dec 23, 2024
Dana Peterson highlights a steep decline in U.S. consumer confidence tied to economic fears and rising living costs. She delves into how tariff changes are affecting business conditions and employment. Meanwhile, the discussion uncovers insights into spending behaviors amid inflation, revealing trends in home and vehicle purchases. Political factors also play a significant role in shaping financial decisions, adding layers of complexity to consumer sentiment.
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Consumer Confidence Drop
- U.S. consumer confidence dropped to a five-month low in December due to economic concerns.
- Consumers are worried about potential Trump policies, especially tariffs increasing living costs.
Fed Focus on Inflation
- Tariff concerns give the Federal Reserve more reason to focus on inflation.
- Some FOMC participants are considering the impacts of potential policies on consumers.
Data Discrepancy
- This consumer confidence data differs from other surveys because it includes various economic indicators.
- The index reflects business, employment, and income, but not political factors.