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The March preliminary read on sentiment from the University of Michigan showed lower levels of optimism than at the depths of the COVID crash.
Despite the pessimism, though, the New York Fed’s monthly Survey of Consumer Expectations showed that wage growth expectations for the next year broke out to 3.04% - the highest level in the history of the survey.
If consumers are expecting wages to grow at the fastest pace in at least a year, why are they so negative?