Consumer sentiment jumps to 9-month high as inflation ebbs and stocks rebound

The numbers: A survey of consumer sentiment rose to 64.6 in January and hit a nine-month high, reflecting easing worries about inflation and Americans’ greater confidence in their own finances.Consumer sentiment is still weak, though. The index is well off a Coronavirus-era peak of 88.3 in April 2021 and a pre-pandemic high of 101.

Another measure that asks about expectations for the next six months moved up to 62 from 59.9 in the prior month. It’s also just a few notches below year-ago levels. In the longer run, consumers said they see inflation falling toward 3% — above the Federal Reserve’s 2% target. Top Fed officials pay close attention to inflation expectations because they could be a harbinger of future price trends.

Big picture: Cheaper gas, rebounding stock prices and ebbing inflation have given Americans more reason for hope.

In spite of Biden, not because of him.

Not what I am hearing

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