The Conference Board's Expectations Index – which assesses consumers' short-term outlook for income, business, and labor market conditions – also declined.
Former Trump administration economist Stephen Moore predicts ‘another 18 months or so’ of very high prices.
The Conference Board's Consumer Confidence Index released Tuesday indicated the May index dropped to 106.4 from 108.6 in April. The organization's Expectations Index – which assesses consumers' short-term outlook for income, business, and labor market conditions – also declined, dropping to 77.5 to 79.
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