Latest / Markets with Megan: A Quick Financial Markets Update / Fed Meeting Looms as Consumer Sentiment Peaks | Episode 172 | 09-13-24

Transcript

Fed Meeting Looms as Consumer Sentiment Peaks | Episode 172 | 09-13-24 · Markets with Megan: A Quick Financial Markets Update

• 0:02
  Megan Horneman: Consumers are definitely feeling more comfortable with the fact that the Fed's going to be cutting interest rates.
• 0:06
  Megan Horneman: Next week.
• 0:06
  Megan Horneman: It is Friday, eptember the 13th, and this is your regular segment of Markets with Megan.
• 0:11
  Megan Horneman: We got the University of Michigan Consumer Sentiment Index this morning and this is the preliminary reading for September.
• 0:18
  Megan Horneman: What we saw was that the broad index actually rose for the second consecutive month and then when you look at the two components that is, expectations for the future of the economy as well as the current conditions on the economy both of these rose to a four-month high.
• 0:35
  Megan Horneman: The big story out of this report was that we've seen now four months of consecutive declines in the inflation expectations over the short run.
• 0:44
  Megan Horneman: So inflation expectations over the next year are expected to be 2.7%.
• 0:49
  Megan Horneman: That compares to a 2.8% estimate and then 2.8% in the prior month.
• 0:55
  Megan Horneman: So consumers are now getting more comfortable with the fact that inflation is decelerating, but they're getting less comfortable with the employment situation.
• 1:04
  Megan Horneman: One of the things in that expectation component was that that rose because of the fact that consumers are expecting interest rates to decline over the next year, so that increased their expectations for their sentiment in the economy over the next year.
• 1:21
  Megan Horneman: That's all we have this week.
• 1:23
  Megan Horneman: Next week's a big week for economic data, don't forget.
• 1:25
  Megan Horneman: The Fed will meet.
• 1:26
  Megan Horneman: We'll get retail sales.
• 1:28
  Megan Horneman: This will be a very important week for economic data and we'll be back to report there.
• 1:32
  Megan Horneman: Have a wonderful weekend and if you like this podcast, please hit that alarm bell.
• 1:37
  Megan Horneman: Subscribe to us, share with friends, family or colleagues.
• 1:40
  Megan Horneman: And if you want a bigger history of our podcast, you can go to marketswithmegan.
• 1:43
  Megan Horneman: fm.
• 1:45
  Megan Horneman: Thank you.