US June prelim UMich consumer sentiment 50.2 vs 58.0 expected

• Prior was 58.4
• Current conditions 55.4 vs 62.5 prior
• Expectations 46.8 vs 54.5 prior
• 1-year inflation 5.4% vs 5.3% prior
• 5-10 year 3.3% vs 3.0% prior -- highest since 2008

These numbers are terrible. This is the lowest reading ever in this series, which dates back to the 1970s.

There's very good reason to think that's an exaggeration as politics infects the surveys but it's still headed quickly in the wrong direction. For the Fed, that jump in long-term inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term expectations is a major red flag and the kind of thing that will make them panic with more-aggressive rate hikes.