© Reuters. FILE PHOTO: Holiday buyers pack the seasonal Bryant Park Winter Village underneath a big Christmas tree in midtown Manhattan, in New York City, U.S., December 15,2023 REUTERS/Mike Segar/File Photo
By Andrea Shalal
(Reuters) – Higher customer costs over the vacation season, genuine wage gains over the last 9 months and a dive in customer self-confidence point to a great start for 2024, stated Jared Bernstein, chair of the White House Council of Economic Advisers on Sunday.
Bernstein informed “Fox News Sunday” that President Joe Biden would continue to focus on lowering expenses for Americans if he won a 2nd term in the November 2024 governmental election.
“If you really appearance at the pattern in the economy … I believe you see some genuine momentum getting us in a excellent start for the brand-new year,” Bernstein stated.
U.S. customer self-confidence increased to a five-month high in December, the Conference Board reported on Dec. 20, matching a almost 14% boost in the University of Michigan’s criteria Consumer Sentiment Index, its mostsignificant dive in more than 3 years. For most of Biden’s term, the Michigan index has showed extensive pessimism amongst families about the economy, however the brand-new information revealed Americans’ growing self-confidence that inflation was lastly tren