U.S. consumer mood sours, home price growth stalls

28-Jul (Reuters) — U.S. consumer confidence took its biggest tumble in four years in July on a less upbeat jobs outlook, while home appreciation in major cities stalled in May, suggesting a spring pause in housing demand.

The disappointing data comes as Federal Reserve policymakers meet to consider whether the U.S. economy is strong enough to warrant an end to the Fed’s near zero interest rate policy, perhaps as soon as September.

The Federal Open Market Committee, the U.S. central bank’s policy-setting group, is meeting on Tuesday and Wednesday.

The Conference Board, an industry group, said on Tuesday its index of consumer attitudes fell to 90.9 this month from a downwardly revised 99.8 in June. It fell far short of a forecast reading of 100.0.

The latest figure was the lowest since September 2014, while the decline was the steepest since August 2011. The report’s jobs hard-to-get index rose to 26.7 from June’s upwardly adjusted 26.1.

[source]

PG View: Not exactly an environment conducive to a rate hike . . .

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