U.S. Consumer Confidence Soars to Two-Year High Amid Easing Inflation
US consumer confidence reached a two-year high in July as inflationary pressures eased and the economy showed resilience despite higher interest rates. The Conference Board's consumer confidence index rose to 117, beating expectations, with both current economic conditions and future expectations improving. Economists monitor consumer confidence closely as it accounts for around 70% of US economic activity. The US economy has remained strong, adding 278,000 jobs per month and maintaining a low unemployment rate. The Federal Reserve is expected to raise interest rates again, aiming for a soft landing to control inflation without causing a recession.