"Fed's Mouthpiece": The sentiment of American consumers is even lower than the lowest point during Biden's term

According to a report by Golden Finance, Nick Timiraos, a Wall Street Journal reporter known as the "Fed's mouthpiece," stated that a consumer survey from the University of Michigan shows inflation expectations have soared. The one-year inflation expectation has jumped from 5.0% to 6.7%, the highest level since 1981, with an abnormal increase of 0.5 percentage points or more for four consecutive months. Democrats, Republicans and Independents all expect overall long-term inflation expectations to rise; in April it climbed to 4.4% (up from previous value of 4.1%), with Independents' increase being particularly significant. Consumer sentiment is now even lower than when oil prices and inflation skyrocketed during President Biden's term.