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Unsurprisingly, investors have become increasingly exuberant about stock prices in conjunction with the market rally that began in 2022.
When looking at the consumer survey data by income bracket, we see that the lowest and middle-income brackets have seen the most prominent advances in confidence.
While the consumer survey is very bullish on the outlook for continuing asset price increases, that sentiment is based on the “hope” that the Fed has everything under control.
The latest consumer survey data from the New York Federal Reserve had interesting data....