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☆ American consumers haven't been this upbeat about the economy since 2021
  + stars: | 2024-01-19 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +3 min
The University of Michigan's consumer sentiment gauge surged in January to 78.8, the highest since July 2021. Year-ahead inflation expectations softened to 2.9%, hitting the lowest since December 2020. The University of Michigan's consumer sentiment gauge jumped to 78.8 in January, the highest mark since July 2021. "Encouragingly for the Federal Reserve consumer inflation expectations fell in January, with 1-year inflation expectations falling to a 3-year low in January." Long-run inflation expectations eased to 2.8%, below the 2.9%-3.0% range seen for 26 of the last 30 months, the survey noted.
Persons: —, Sam Millette, Sal Naro, headcount Organizations: of, Service, University of, Commonwealth Financial Network, Federal Reserve, University of Michigan, Commerce Department, Downside, Busines
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