Despite surging stock prices in April, UMich's final Consumer Sentiment print slipped to 89.0 (from 89.7 prelim and 91.0 previous) notably below expectations and the lowest since September 2015. Under the covers though, it was "hope" that really plunged, as Consumer expectations dropped to 77.0 - the lowest since September 2014. However, worst of all for The Fed is that medium-term inflation expectations tumbled back to 2.5% record lows.
Hope is plunging...to 18 month lows
As inflation expectations tumbled back to record lows...
So it appears soaring gas prices trump soaring stock prices when it comes to America's average joe? Who could have seen that coming?