Consumer Confidence Tumbles As Concerns Over Labor Market Grow, Odds Rise For 50-Basis-Point Interest Rate Cut In November

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U.S.consumer confidence experienced a sharp and unexpected decline in September due to mounting concerns over the labor market, increasing speculation that the Federal Reserve might implement a consecutive 50-basis-point rate cut at its November meeting.

Consumer Confidence Worsens As Labor Market, Inflation Conditions Turn Bleaker Peterson highlighted that all five components of the index deteriorated, reflecting consumers' negative assessments of both current business conditions and the labor market.

Consumers expressed more pessimism about future job availability and income prospects, with those aged 35 to 54 showing the sharpest decline in confidence.Among income groups, ...

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Author / Journalist: Piero Cingari

Category: Technology

Markets: United StatesChina

Topics: Economics US78463V1070 Consumer Confidence Federal Reserve Broad U.S. Equity ETFs Benzinga Stories That Matter Tech Macro Economic Events ETFs UUP Top Stories GLD Econ #s US78462F1030 US73936D1072 SPY Interest Rates

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-24 @ 15:56:50 (4 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 554 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 22697472

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