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Entity: Consumer Confidence Constitutes Economic Risk

7 hours ago

March 14th—John Velis, a strategist at Mellon Bank in New York, expressed that the decrease in the University of Michigan Consumer Confidence Index was "discouraging." He pointed out that what is particularly concerning is the upward trend in long-term inflation expectations. Previously, long-term inflation expectations had remained relatively stable. With the impact on consumer confidence, the weakening demand may start to be reflected in the real economy. This phenomenon has already appeared in some industries such as air travel. According to the inflation data released this week, air travel prices witnessed a decline in February. Regarding consumer confidence surveys, Velis said: "Many cyclical pieces of evidence indicate that these indicators are not excellent predictors. However, you cannot ignore the overall decline and the factors behind it." (FX678)

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