"US Consumer Confidence Reaches Highest Level in Months"

US consumer sentiment, as measured by the University of Michigan, rose 13% in July, reaching its highest level since September 2021. This increase in optimism is attributed to the steady slowdown in inflation and stability in the labor market. Consumers' expectations for inflation rates remain low, although slightly higher than the previous reading. Despite the Federal Reserve's rate-hiking campaign, the labor market has remained steady, raising the possibility of a soft landing for the economy.