- U.S. consumer confidence dropped 6.7 points to 81.9 in September, reaching its lowest level since April 2014 due to persistent inflation, stagnant pay, and the war in Iran.
- The sharp decline in economic sentiment presents potential political hurdles for President Donald Trump and the Republican Party ahead of upcoming midterm elections.
- Consumer price inflation accelerated by 0.4 percent in August from the previous month, driven by surging costs for fuel, general merchandise, and essential services.
- To combat ongoing inflation, the Federal Reserve implemented a quarter-point rate increase to roughly 3.9 percent, marking its first interest rate hike since 2023.
- Although the U.S. labor market added 162,000 jobs in August, average hourly wage growth slowed to 3.1 percent year-over-year, registering its smallest annual gain since May 2021.
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