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☆ Taiwan's opposition parties to decide on joint presidential ticket
▼ + stars: | 2023-11-15 | by ( ) www.cnbc.com time to read: +4 min

(L-R) Eric Chu, Taiwan's main opposition Kuomintang (KMT) chairman, Hou Yu-ih, KMT presidential candidate, Ma Ying-jeou, former Taiwan president and Ke Wen-je, presidential candidate from the Taiwan People's Party (TPP) pose following a meeting in Taipei on November 15, 2023. The issue of China, which views Taiwan as its territory, looms over the Jan. 13 parliamentary and presidential elections. Taiwan's two main opposition parties, which have vowed to renew talks with China, agreed on Wednesday to make a decision on a joint presidential ticket for January's elections, as the front-running ruling party decried interference from Beijing. It will unite Taiwan," Hou told business leaders after the talks. Lai says only Taiwan's people can decide their future and has repeatedly offers talks with Beijing, which has rejected the offers.

Persons: Eric Chu, Hou Yu, Ma Ying, Ke Wen, Sam Yeh, Lai Ching, Democratic Progressive Party's, Ko Wen, Hou, Tsai Ing, Chen Yi, Kou, Lai, Chen, Ma, Hsiao Hsu, Hsiao, China detests Lai, Ko, Terry Gou, Gou, TPP Organizations: Kuomintang, KMT, ih, Taiwan People's Party, SAM YEH, Getty, Democratic Progressive, Taiwan's Tamkang University, Beijing, DPP, Apple Locations: Taiwan, Taipei, AFP, China, Beijing, U.S, United States

The issue of China, which views Taiwan as its territory, looms over the Jan. 13 parliamentary and presidential elections. It will unite Taiwan," Hou told business leaders after the talks. China cut off routine talks with Taiwan after President Tsai Ing-wen of the DPP took office in 2016. OPPOSITION CHALLENGEChen Yi-fan, an assistant professor of diplomacy and international relations at Taiwan's Tamkang University, said if Hou and Kou did not work together then Lai would certainly win. Lai says only Taiwan's people can decide their future and has repeatedly offers talks with Beijing, which has rejected the offers.

Persons: Eric Chu, Hou Yu, Ma Ying, Ko Wen, Lai Ching, Democratic Progressive Party's, Hou, Tsai Ing, Chen Yi, Kou, Lai, Chen, Ma, Hsiao Hsu, Hsiao, China detests Lai, Ko, Terry Gou, Gou, TPP, Ben Blanchard, Yimou Lee, Muralikumar Anantharaman, Robert Birsel Organizations: Taiwan's Kuomintang, KMT, ih, Kuomintang, Taiwan People’s, Democratic Progressive, Taiwan People's Party, Taiwan's Tamkang University, Beijing, DPP, Apple, Thomson Locations: Taiwan, Taipei, TAIPEI, China, Beijing, U.S, United States

☆ FDIC Chair takes heat over stunning allegations of sexual harassment and discrimination at agency
▼ + stars: | 2023-11-14 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

New York CNN —Federal Deposit Insurance Corporation Chair Martin Gruenberg testified Tuesday that he was unaware of the allegations of widespread sexual harassment and discrimination at the agency detailed in a Wall Street Journal investigation. “I did not know about the individual cases,” Gruenberg told him. Martin Gruenberg, chair of the Federal Deposit Insurance Corporation, told senators on Tuesday he was troubled by the allegations detailed in a Wall Street Journal investigation. The report also referenced a 2019 survey conducted by the inspector general that found 8% of the 2,376 respondents experienced sexual harassment between January 2015 to April 2019. The 2020 inspector general report made 15 recommendations to prevent and address sexual harassment at the agency, which Gruenberg said in his testimony on Tuesday had been implemented but acknowledged “didn’t change the culture” at the FDIC.

Persons: Martin Gruenberg, Gruenberg, “, we’ve, ”, Mike Rounds, Thom Tillis, ” Gruenberg, Michael Barr, Michael Hsu, Urban Affairs Gruenberg, Jelena McWilliams Organizations: New, New York CNN, Federal Deposit Insurance, Street, Senate, Street Journal, FDIC, Federal Reserve, Federal Deposit Insurance Corporation, Banking, Housing, Urban Affairs, Financial Locations: New York, South Dakota, North Carolina, “, U.S

REUTERS/Evelyn Hockstein/ Acquire Licensing RightsWASHINGTON, Nov 14 (Reuters) - The Federal Reserve's top Wall Street cop Michael Barr and other bank regulators will defend plans to hike U.S. bank capital requirements when they appear before Congress this week as they come under increasing pressure from many lawmakers to rein in their efforts. The proposal would overhaul how banks gauge risk and, in turn, how much capital they must hold against potential losses. Regulators say stronger cash cushions will make the financial system safer and are especially crucial after three banks failed earlier this year. As part of their campaign to kill the Basel proposal, banks have been lobbying lawmakers to put pressure on the regulators. On Monday, 39 Senate Republicans stepped up the pressure, asking the regulators to scrap the proposal, citing economic harm.

Persons: Michael Barr, Evelyn Hockstein, Barr, Federal Deposit Insurance Corporation's Martin Gruenberg, Mike Hsu, Mark Warner of Virginia, Jon Tester, Isaac Boltansky, Gruenberg, Michelle Price, Pete Schroeder, Jonathan Oatis Organizations: Banking, Housing, Urban Affairs Committee, Capitol, REUTERS, Rights, Federal, Federal Deposit Insurance, Financial, Democrat, Senate, Republicans, Journal, Industrial, Commercial Bank of China, Treasury, Thomson Locations: Washington , U.S, U.S, Basel, Montana

☆ Dow rises 391 points as US stocks close out another winning week
▼ + stars: | 2023-11-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

US stocks climbed Friday, with the Dow jumping by almost 400 points. Stocks rebounded after falling on Thursday to snap an eight-day winning streak. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementUS stocks jumped on Friday, with the Dow Jones Industrial Average gaining almost 400 points and the Nasdaq adding more than 2%. Meanwhile, US consumers' long-term inflation expectations rose to the highest since 2011, according to a preliminary November report from the University of Michigan.

Persons: Stocks, —, Jerome Powell, Joanne Hsu Organizations: Dow, Service, Dow Jones Industrial, Nasdaq, Treasury, Federal, University of Michigan, University of Locations: Gaza, Ukraine

☆ Americans’ attitudes about the economy worsened for the fourth straight month
▼ + stars: | 2023-11-10 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Americans are becoming gloomier about the economy with interest rates at a 22-year high and economic growth widely expected to slow. That was the fourth consecutive month that sentiment soured, after improving over the summer. Meanwhile, both short-term and long-term inflation expectations worsened this month. Americans’ expectations for inflation rates in the year ahead rose to 4.4% in November, up from October’s 4.2% reading. In a worrisome sign for the Federal Reserve, long-run inflation expectations rose to 3.2% this month, the highest level since 2011.

Persons: Joanne Hsu, Jerome Powell, it’s, ” Powell, Stocks, —, Powell Organizations: DC CNN, University, Federal Reserve, Fed, International Monetary Fund Locations: Washington, Gaza, Ukraine

Consumers continued to sour on the economic outlook in November while also growing more pessimistic about future inflation, according to the first estimate from the University of Michigan consumer sentiment survey. The index of consumer sentiment fell 5% to a reading of 60.4, down from 63.8 in October. “Ongoing wars in Gaza and Ukraine weighed on many consumers as well.”“Overall, lower-income consumers and younger consumers exhibited the strongest declines in sentiment,” Hsu added. Various surveys measuring the minds of consumers have found them to be worried about inflation and the economy in general. “Consumer sentiment continues to trend downward at a moderate pace as consumers attempt to juggle inflation and higher interest rates,” said Damian McIntyre, Portfolio manager and head of multi asset solutions at Federated Hermes.

Persons: ”, Joanne Hsu, ” Hsu, Joe Biden, Damian McIntyre, Gregory Daco, ” Daco, Goldman Sachs Organizations: University of Michigan, “, Federated Hermes, Federal Reserve, Index, Louis Federal Reserve Bank Locations: Gaza, Ukraine, Kentucky, Ohio

☆ A modern etiquette guide for group chats
▼ + stars: | 2023-11-09 | by ( Michael Venutolo-Mantovani | ) www.businessinsider.com time to read: +14 min

A recent poll of 1,005 US adults found the average American spends 26 minutes a day reading and responding to group chats. For us to survive and thrive as humans, it's time to agree on the Definitive Etiquette of the Group Chat. The ultimate appeal of group chats — their necessity, really — is that they've become the only social media that's actually social. Group chats can become overwhelming, of course, especially as they creep into other apps and especially as they often duplicate participants. Don't talk about the group chat outside the group chat.

Persons: who's, Sam Bankman, Fried, siphoning, Emily Post, they've, Mark Zuckerberg, Twitter, Hua Hsu, e Organizations: Bank, Democratic, Street, Wall, Mets, New York Giants, Facebook, Adidas, Nazi, Yorker Locations: Bankman, Silicon, Indonesia, American, Business, Politics, Netherlands, Rome, Tucson, le

Last year, Taiwan's chip industry generated T$4.837 trillion ($150.27 billion) in revenue, nearly half of which came from TSMC, compared with Taiwan's GDP of T$22.667 trillion ($704.21 billion). "Taiwan's limited land and limited energy have always created a lot of pressure," GlobalWafers (6488.TWO) CEO Doris Hsu told reporters. 'FIVE SHORTAGES'The chip industry has long complained about Taiwan's "five shortages": land, water, energy, labour, and talent. Taiwan's government - determined to keep its crown jewel's most advanced technology at home - has said it will provide alternative options. The Longtan expansion had proposed acquiring 159 more hectares in the north, where TSMC and many chip companies are based.

Persons: Wei Hsin, Carlos Garcia Rawlins, Taiwan's, Wang Mei, TSMC, Doris Hsu, Hsu Shih, Rich, Chen Ting, Chen, Liao Chen, Cliff Hou, Isaiah, Lucy Chen, Chen Chi, Sarah Wu, Yimou Lee, Ben Blanchard, Gerry Doyle Organizations: REUTERS, Rights, Taiwan Semiconductor Manufacturing Co, Taiwan's, National Chengchi University, Hsinchu Science Park, Reuters, Residents, TMSC's, Thomson Locations: Longtan, Taoyuan, Taiwan, Rights HSINCHU, LONGTAN, Hsinchu, United States, Japan, Germany, TSMC, Belgium, Arizona, Kaohsiung

☆ A.I. Muddies Israel-Hamas War in Unexpected Way
▼ + stars: | 2023-10-28 | by ( Tiffany Hsu | Stuart A. Thompson | ) www.nytimes.com time to read: 1 min

Some observers on social media quickly dismissed it as an “A.I.-generated fake” — created using artificial intelligence tools that can produce photorealistic images with a few clicks. Several A.I. specialists have since concluded that the technology was probably not involved. Since Hamas’s terror attack on Oct. 7, disinformation watchdogs have feared that fakes created by A.I. tools, including the realistic renderings known as deepfakes, would confuse the public and bolster propaganda efforts.

Locations: Israel

The Consequences of Elon Musk’s Ownership of XNow rebranded as X, the site has experienced a surge in racist, antisemitic and other hateful speech. Research conducted in part by the Institute for Strategic Dialogue concluded that anti-Semitic tweets in English more than doubled after Mr. Musk’s takeover. Keeping X at the center of public debate is exactly Mr. Musk’s goal, which he describes at times with a messianic zeal. Even worse, the article argued, Mr. Musk’s changes appear to be boosting the engagements of the most contentious users. A month into Mr. Musk’s ownership, the platform stopped enforcing its policy against Covid-19 misinformation.

Persons: Elon Musk, ”, “, Musk’s, —, Musk, Tim Chambers, ” Mr, Chambers, Tesla, lockdowns, Thierry Breton, Mr Organizations: Elon, Twitter, “ Twitter, Hamas, Dewey, Group, Defamation, Research, Institute for Strategic, Commission, Kremlin, Pentagon, Tufts, Rutgers, Montclair, 4chan, Harvard Kennedy School, Covid, Media, Mr, Commission's Digital Services, Services, Defamation League, European Union Locations: Musk’s, Russia, China, Israel, Ukraine, Iran, guardrails

"I think the entire Taiwan semiconductor industry - in our essence, in our R&D and manufacturing, and in our global layout - will undergo a comprehensive improvement and transformation." Key to the development of the industry is stable and renewable energy, Hou, the chairman of the Taiwan Semiconductor Industry Association, told its annual meeting in the chip hub of Hsinchu. Last month, the association made four key appeals to the government, among them the stable supply of green energy, as Taiwan's chip industry aims to seize the AI opportunity, Hou said. In 2021, Taiwan Semiconductor Manufacturing Co Ltd (TSMC) said it aimed to reach net zero emissions by 2050, matching a government target set that year by President Tsai Ing-wen. GlobalWafers (6488.TWO) CEO Doris Hsu told reporters that while AI will be a key driver of rapid growth in the next decade, Taiwan's chip industry faces several pressures as it grows.

Persons: Ann Wang, Cliff Hou, Hou, Tsai Ing, Doris Hsu, Hsu, Sarah Wu, Ben Blanchard, Clarence Fernandez, Raju Gopalakrishnan Organizations: REUTERS, Rights, Taiwan, Taiwan Semiconductor Industry Association, Taiwan Semiconductor Manufacturing Co, Thomson Locations: Tainan, Taiwan, Rights HSINCHU, Hsinchu

☆ The shaky stock market is making Americans feel uneasy
▼ + stars: | 2023-10-27 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Americans’ moods soured this month, largely due to a wobbly stock market. The survey also showed that Americans became more pessimistic about the economy’s outlook for the year ahead. The tech-heavy Nasdaq tilted into correction territory Thursday as shares of some Big Tech companies slipped. Meanwhile, Americans’ inflation expectations for the year ahead worsened in October, jumping to 4.2% from 3.2% in September, the highest reading since May. The Federal Reserve pays close attention to inflation expectations, particularly longer-term expectations.

Persons: Joanne Hsu Organizations: DC CNN, University of Michigan’s, Consumers, Investors, Federal Reserve, Treasury, Meta, Microsoft, Google, Big Tech, Apple, Nvidia, Fed Locations: Washington

☆ A New Report Documents How Easily Children Can Access Graphic Images of the War
▼ + stars: | 2023-10-18 | by ( Tiffany Hsu | More About Tiffany Hsu | ) www.nytimes.com time to read: +2 min

Meta, which owns Instagram, addressed its efforts to balance safety and speech in a blog post about the war on Friday. It noted that it established a special operations center with expert monitors working in Hebrew and Arabic, who removed or flagged more than 795,000 pieces of harmful content in the first three days of the conflict. The company also said that Instagram allows users to control how much sensitive content they are recommended. The platform said it is automatically detecting and removing graphic and violent content, placing opt-in screens over disturbing images and adding restrictions to its livestreaming function amid the hostage situation. (Hamas accounts have been blocked by platforms like Instagram and TikTok but remains active on Telegram.)

Persons: ” Isabelle Frances, Wright, TikTok Organizations: USA

[1/2] Voters walk past Vote 'Yes' and Vote 'No' signs at the Old Australian Parliament House, during The Voice referendum in Canberra, Australia, October 14, 2023. REUTERS/Tracey Nearmy Acquire Licensing RightsSYDNEY, Oct 15 (Reuters) - Australian Indigenous leaders called on Sunday for a week of silence and reflection after a referendum to recognise the First Peoples in the constitution was decisively rejected by a majority of the population. Aboriginal and Torres Strait Island people make up 3.8% of Australia's 26 million population and have inhabited the country for about 60,000 years. The leaders said they would lower the Aboriginal and Torres Strait Island flag to half-mast for the week and urged others to do the same. 'REFLECT HARD'Prime Minister Anthony Albanese staked significant political capital on the Voice referendum, but his critics say it was his biggest misstep since coming to power in May last year.

Persons: Tracey Nearmy, Lloyd Walker, Walker, Jade Ritchie, it’s, Anthony Albanese, Peter Dutton, Cordelia Hsu, Jill Gralow, Chizu Nomiyama Organizations: Old Australian, House, REUTERS, Rights, Peoples, Aboriginal, First Peoples, national rugby, Reuters, Thomson Locations: Canberra, Australia, Torres, Canada, New Zealand

☆ Americans are becoming more worried about inflation after resumption of student loans
▼ + stars: | 2023-10-13 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Persistently high inflation took a toll on Americans’ attitudes this month as many began to pay back student loans following a three-year hiatus. The University of Michigan’s consumer sentiment index fell 7% in October from the prior month, according to a preliminary reading released Friday. October marks the first month of Americans paying back their student loans since the pandemic-related pause. The pause gave relief to more than 43 million Americans who have student loans, with the vast majority owing less than $40,000 and nearly one-third owing less than $10,000. Expectations can worsen, the longer inflation remains elevated, so the upward pressure from higher gas prices on headline inflation can make Americans more pessimistic about inflation.

Persons: DC CNN —, ”, Joanne Hsu, “ Organizations: DC CNN, University of, Consumers, Federal Reserve Locations: Washington, Wells Fargo

Consumers fell prey to inflation that remains high, especially for life’s necessities like food and gasoline, according to the latest monthly survey from the University of Michigan. The consumer sentiment survey fell by 7% overall to 63 from 68.1 in September, while the current conditions reading dropped to 66.7 from 71.4 and the future expectations was at 60.7, down from 66 a month ago. Notably, expectations for the annual rate of inflation a year from now rose to 3.8% from 3.2% in September. “Assessments of personal finances declined about 15%, primarily on a substantial increase in concerns over inflation, and one-year expected business conditions plunged about 19%,” said Joanne Hsu, survey director. “Owners remain pessimistic about future business conditions, which has contributed to the low optimism they have regarding the economy,” said Bill Dunkelberg, NFIB chief economist.

Persons: ”, Joanne Hsu, Sam Bullard, Joe Brusuelas, Tuan Nguyen, NFIB, Bill Dunkelberg, JP Morgan Chase, Jamie Dimon Organizations: University of Michigan, Monetary Fund, Federal Reserve, Federal Reserve Bank of Atlanta, Wells Locations: U.S, Washington

☆ These 2 Chinese EV makers are in awkward pricing ranges and might fail
▼ + stars: | 2023-10-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThese two Chinese EV makers are in awkward pricing ranges and 'the days are numbered'Jason Hsu of Rayliant Global Advisors discusses China's global push in the EV sector and picks two Chinese automakers as the Toyota and Nissan of the EV world.

Persons: Jason Hsu Organizations: Rayliant Global, EV, Toyota, Nissan

☆ A quant fund boss talked his mom into selling Nvidia at 60% of its current price. She won't let him forget it.
▼ + stars: | 2023-10-02 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Quant fund chief Jason Hsu thought Nvidia's rally couldn't last any longer – so talked his mom into selling at $250 a share. "I'm going to be putting a hex curse on that stock," Hsu joked. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementThe head of a quant trading fund told his mom to sell her Nvidia shares when they were trading at just 60% of their current price – and hasn't heard the end of it since. "I told my mom, 'Sell Nvidia, you made such a good gain.'

Persons: Jason Hsu, Nvidia's, Hsu, —, hasn't, he'd, Rayliant Organizations: Service, Nvidia, Rayliant Global Advisors, Research

☆ Government shutdown, labor strikes will likely weigh on US consumers’ attitudes
▼ + stars: | 2023-09-29 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Americans are taking notice of a possible government shutdown and the uncertainty of ongoing labor strikes, according to the University of Michigan’s latest consumer sentiment survey. The university’s Consumer Sentiment Index edged lower by 1.4 points in September, according to a final reading. That would mean some federal workers become furloughed and agencies operate with skeleton crews, hamstringing agencies’ ability to provide crucial government services. The ongoing United Auto Workers strike is also not expected to end soon. With so much turmoil, Americans will likely feel uneasy in the coming weeks, which could affect their spending.

Persons: ”, Joanne Hsu, There’s Organizations: DC CNN, University of Michigan’s, “, Republicans, United Auto Workers, UAW, Ford, GM, Kaiser Permanente, Commerce Department Locations: Washington, Kaiser, California , Colorado , Oregon, Washington , Virginia, Las Vegas, Reno

ChatGPT can now generate images — and they are shockingly detailed. On Wednesday, OpenAI, the San Francisco artificial intelligence start-up, released a new version of its DALL-E image generator to a small group of testers and folded the technology into ChatGPT, its popular online chatbot. Called DALL-E 3, it can produce more convincing images than previous versions of the technology, showing a particular knack for images containing letters, numbers and human hands, the company said. By adding the latest version of DALL-E to ChatGPT, OpenAI is solidifying its chatbot as a hub for generative A.I., which can produce text, images, sounds, software and other digital media on its own. Since ChatGPT went viral last year, it has kicked off a race among Silicon Valley tech giants to be at the forefront of A.I.

Persons: ”, Aditya Ramesh, ChatGPT Locations: OpenAI, San Francisco, ChatGPT

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow inflation expectations and consumer behavior can manifest higher pricesWhat people believe may happen to prices in the future can influence actual inflation. "People behave in accordance with their expectations and with their sentiment and attitudes towards the economy," Joanne Hsu, director of the Surveys of Consumers at the University of Michigan, told CNBC. Watch the video above to learn more about how inflation expectations are measured, why the Federal Reserve cares so much about what Americans predict and how consumer behavior can manifest higher prices.

Persons: Joanne Hsu Organizations: Consumers, University of Michigan, CNBC, Reserve

☆ Why the Fed's interest rate move may hinge on inflation expectations
▼ + stars: | 2023-09-19 | by ( Andrea Miller | In Dreajmiller | ) www.cnbc.com time to read: +3 min

The U.S. seemed to be winning its battle against inflation, but the latest consumer price index data showed inflation rose more than expected. The University of Michigan's consumer sentiment August survey indicated consumers' one-year inflation expectations were at 3.3%, marking three consecutive months of stability. Inflation expectations, or the rate at which consumers expect prices to rise or fall in the future, can influence higher prices in the economy. Inflation expectations play a crucial role in the decisions made by the Federal Reserve. But consumer expectations of inflation are still above the Fed's 2% inflation rate target.

Persons: Joanne Hsu, It's, Hsu, Claudia Sahm, Jerome Powell's, Powell, Barry Glassman Organizations: University of Michigan, The University of, Consumers, CNBC, Federal Reserve, Sahm Consulting, Federal, Kansas City, Wealth Services Locations: U.S, Jackson Hole , Wyoming

☆ Australia swelters in 'uncommon' spring heat ahead of likely El Nino event
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Sept 16 (Reuters) - Large parts of Australia were in the grips of "uncommon" spring heat on Saturday, the nation's weather forecaster said, forecasting that record temperatures could be set on Sunday. The heat burst came after the forecaster said this week that indicators of an El Nino weather event had strengthened and it would likely develop between September and November, bringing hotter, drier conditions to Australia. The weather bureau said the "early period of heat" in many parts of the country was "very uncommon during September". "Record September daytime and nighttime temperatures are expected from Sunday through Thursday across inland areas of South Australia, New South Wales and northeast Victoria." Another local, Danielle Vangou, was worried about runners in the Sydney marathon, set to take place on Sunday.

Persons: El Nino, Bella Callaghan, Danielle Vangou, Sam McKeith, Cordelia Hsu, Tom Hogue Organizations: New, Kingsford Smith Airport, Meteorology, Facebook, Sydney, Thomson Locations: Australia, Sydney, Australia's, New South Wales, El Nino, South Australia, Victoria, Bondi, Turkey

☆ Americans are feeling gloomier about the economy
▼ + stars: | 2023-09-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +1 min

Washington, DC CNN —Americans aren’t feeling gloomy about higher gas prices just yet, but they’re still on edge about inflation and the economy’s direction — and concerns are starting to surface about the possibility of a government shutdown. Consumer sentiment tracked by the University of Michigan edged down in September from the prior month by 1.8 points, according to a preliminary reading released Friday. “Both short-run and long-run expectations for economic conditions improved modestly this month, though on net consumers remain relatively tentative about the trajectory of the economy,” said the University of Michigan’s Surveys of Consumers Director Joanne Hsu in a release. Sentiment fell to its lowest level on record last summer when gas prices topped $5 a gallon and inflation reached a four-decade high. Consumers’ expectation of inflation rates in the year ahead fell to a 3.1% rate in September, down from 3.5% in the prior month.

Persons: they’re, ”, Joanne Hsu Organizations: DC CNN, University of Michigan, University of Michigan’s, AAA Locations: Washington

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