US Consumer Confidence Hits 16-Month Low

The video discusses the weakening of consumer confidence due to rising gas prices, mortgage rates, and inflation. Dana Petersen, a chief economist, provides insights into the economic indicators, highlighting a potential recession. The discussion covers the impact of inflation on consumer expectations, the Federal Reserve's response, and future economic challenges. The video emphasizes the importance of understanding these economic trends and their implications for consumers and markets.

What was the revised consumer confidence number mentioned in the first section?

• 98.7

• 106.4

• 103.2

• 100.0

According to Dana Petersen, what is a significant factor contributing to the decline in consumer confidence?

• Lower housing costs

• Stable interest rates

• Rising energy prices

• Decreasing wages

What does a consumer expectations number below 80 indicate?

• Economic growth

• Recession signal

• Stable economy

• Inflation decrease

What is the Federal Reserve's primary concern according to the third section?

• Unemployment rates

• Stock market performance

• GDP growth

• Inflation expectations

How does the Federal Reserve plan to address inflation according to the discussion?

• Lowering interest rates

• Reducing government spending

• Increasing government spending

• Increasing interest rates

What impact would a significant drop in gas prices have on consumer confidence?

• No impact

• Decrease in confidence

• Increase in confidence

• Stabilization of confidence

What external factor is mentioned as influencing food and energy prices?

• Technological advancements

• Trade agreements

• War in Ukraine

• Climate change