Last Stand For U.S. Consumer Confidence \ Credit Card Debt Hitting Max
Channel: Stock Docta' Trading
Date: 2023-03-06

#inflation #fed #economy #shorts 

In New York. We clearly get this effervescence. It's out there, the restaurants are packed, etc.. You know the drill as well. Is it legit nationwide? Well, it's interesting because we did see that pop and consumer activity at the start of the year. But at the same time, we saw consumer confidence tick down at the start of the year.

So it doesn't appear as if the consumer is increasingly confident in their financial footing. It appears more as if we're seeing the consumer's last stand, if you will, as households are drawing down the very last of saving, as they're ramping up credit card debt. Now, this doesn't mean that it's a one month off. We could see continued strengthen in February, maybe even March.

But this is not a lasting trend of robust activity on the consumer part. So some people will push back inevitably, since that's what the market is doing, pushing back against your view and saying, well, if you look at all of the inflation data, it's come in surprisingly hot again and again. What can give us confidence? Oh, I don't think we have the confidence right now.
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