US November prelim UMich consumer sentiment 60.4 vs 63.7 expected

• Prior was 63.8
• Current conditions 65.7 vs 69.5 expected (70.6 prior)
• Expectations 56.9 vs 59.5 expected (66.0 prior)
• 1-year inflation 4.4% vs 4.2% prior
• 5-10 year 3.2% vs 3.0% prior

This survey is more about gasoline prices and the political mood than anything else. That said, the Fed cares about it and seeing the jump in inflation expectations even as gasoline prices have been sliding is a real concern. The 3.2% longer-term number is also just shy of the 2022 high of 2.3% and has accelerated rapidly from 2.7%.

            This article was written by Adam Button at www.forexlive.com.