Consumer sentiment falls in May. Here's what it could mean for rate cuts.

The May University of Michigan Consumer Sentiment reading scored 67.4, a six-month low and far beneath an expected 76.2. Surveys of Consumers Director Joanne Hsu wrote that consumers express "worries that inflation, unemployment, and interest rates may all be moving in an unfavorable direction in the year ahead."
Head of Americas Equities at Janus Henderson Investors Marc Pinto joins Catalysts to give insight into the Consumer Sentiment numbers and what the data signals about the strength of the consumer.
When asked if the Fed cares about consumers' reaction to current inflation, Pinto states, "No, they clearly want it, below 3% and is close to two as possible. I think they're obviously tracking all the different metrics. I think wage inflation, from our vantage point, is one of the most important ones... Obviously, there are parts of inflation that are out of control of the Fed, whether it's energy prices or housing prices, those are more driven by externalities and cyclical factors. But the Fed is trying to manage the mandate between keeping inflation in check, but also keeping the economy on solid footing."
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[@joelyates2404]

Someone remind Joe. He apparently doesn't get it.

[@drury2d8]

US economy is a war machine, how do you think the country became rich? What drives innovation? WAR!! Europe got their hands dirty for a lot longer.

[@eyelovecolorado2195]

And yet the market is up 125 points today! 😂

[@BuyLessJess]

Seriously, late April was a little rough but the market really bounced back quick.