There's rising hope that monetary policymakers have successfully cooled inflation without tipping the economy into a recession.
Yet closely watched survey data from the University of Michigan shows consumer sentiment, while improving, is a far cry from pre-pandemic levels.
Inflation vs. the job marketContinued strength in the labor market is something economists expected to sweeten everyday Americans' views of the economy.
While the Michigan index compiles questions focused on financial conditions and purchasing power, the Conference Board's more closely gauges one's feelings about the job market.
A hot job market can be a double-edged sword for sentiment, Michigan's Hsu noted.
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Locations:
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