Main St.-Wall St. Divide Reaches Record High As UMich Inflation Angst Re-Accelerates

Main St.-Wall St. Divide Reaches Record High As UMich Inflation Angst Re-Accelerates Preliminary October UMich Sentiment held steady this month, registering a tiny 0.1pt decline below September (Current Condiutions dipped but Expectations ticked up)... Increases in sentiment among Republicans and Democrats were balanced by declines among independents. While year-ahead business conditions improved about 14%, they stand 16% less than last October’s read. This month’s decline in the Current Conditions subindex was driven entirely by buying conditions for durables, which plunged 18% on the basis of higher interest rates and rising concerns about the...