Pantheon analyst: University of Michigan Consumer Confidence Index rises, inflation expectations decrease

According to Samuel Tombs of Pantheon, the University of Michigan Consumer Confidence Index rose from 49.5 in June to 54.4, exceeding economists' expectations of 50.5 but still below last year's average level. The decrease in inflation expectations brings comfort to the Federal Reserve. Samuel Tombs stated that Federal Reserve Chairman Kevin Walsh's tough rhetoric on inflation did not lower expectations, and the likelihood of wage growth rising due to the recent overall inflation rebound is low as workers lack leverage.