Inflation Uncertainty Soars To 1982 Levels

The improvement in US consumer sentiment witnessed in late August ebbed early this month, amid ongoing uncertainty about the outlook for the world's largest economy. Sentiment, as measured by the University of Michigan, ticked higher in the preliminary read for this month, but at 59.5 on the headline gauge, the increase from August's final reading was minuscule (figure below). The current conditions index was basically unchanged, while the expectations gauge moved up a couple of points. Eco