Consumer confidence among Americans soared in November, building on October's gains, as trump' election victory sparked a surge in both the Present Situation and the Expectations sub-index...
Source: Bloomberg
That is the biggest percentage jump in the Present Situation Index since summer 2021 as vaccines rolled out and 'saved the world'.
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Source: Bloomberg
Rather oddly, amid the improved optimism., expectation for purchases (for cars, homes, and durables) all fell modestly in November...
Source: Bloomberg
But, The Board's labor market indicator showed the jobs situation improve considerably after an ugly few months...
Source: Bloomberg
...and expectations for stock market gains continued to surge while inflation (and interest rate) expectations fell to post-COVID lows...
Source: Bloomberg
Does any of this seem like American consumers need another 25bps rate cut?