It may seem counterintuitive that the Federal Reserve raised interest rates on the day last week when inflation was shown to have declined in May for the second time in three months.
Consumers are happy as the new year begins.
Consumer confidence slipped in two key November surveys and home resales fell in October. New-home sales rose for the same month, but the increase missed economists’ expectations.
The Consumer Confidence Index climbed to 95.4 in May from a downwardly revised 94.3 in April as Americans displayed a more positive view of the labor market.