U.S. Consumer Confidence Plummets to 22-Month Low

April's consumer confidence index dropped sharply to 97, signaling potential economic downturn amid persistent inflation concerns.

Consumer confidence in the U.S. fell to its lowest since July 2022, with the index at 97, underscoring growing pessimism about the economy.
Inflation, particularly in food and gas prices, remains a primary concern among consumers, impacting their economic outlook.
The expectations index, a predictor of short-term economic conditions, dropped to 66.4, hinting at possible recessionary conditions ahead.
Despite rising inflation and interest rates, consumer spending continues robust, presenting a complex economic scenario.
Federal Reserve is unlikely to cut interest rates soon, with no reductions expected before the November elections, amid hotter-than-expected inflation data.