Consumer sentiment hits 10-year low while workers quit jobs in record numbers
“The survey showed 1 in 4 consumers reducing their living standards due to price increases, while half of all families anticipated reduced real income in the year ahead when adjusted for inflation.”
Consumer Sentiment Index
(University of Michigan, 2012-2021)
Chart courtesy of TradingEconomics.com
USAGOLD note: Not a very comforting scenario …… This article emphasizes inflation as the reason for plunging consumer confidence, but we see it as a warning shot across the Fed’s bow on anything resembling tighter monetary policy.