Market news
11.08.2023, 19:36

US: Rate expectations remain elevated among consumers – Wells Fargo

The University of Michigan's Consumer Confidence data for August offered little change. Analysts at Wells Fargo point out that consumers anticipate prices to decline overall, despite their expectations of rising interest rates.

Key quotes: 

“Consumers are becoming more convinced that inflation is cooling. Whether or not they fully understand the Federal Reserve's role in that is not completely clear, but they are yet to be convinced that we have seen the last of rising interest rates.”

“A majority of consumer still expects interest rates to rise over the next year. In fact, the index value for this measure, or the share of consumers expecting interest rates to go up less the share expecting them to come down in the next year, sits at 50. Though this is a slight decline from 52 in July, it is still above any other point since February 2021.”

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location