US Consumer Sentiment Posts Largest Two-Month Gain Since 1991

Consumer moods brightened dramatically and inflation expectations receded further in early January, the preliminary read on University of Michigan sentiment, released on Friday, showed. The headline gauge, which likewise jumped in December, rose to 78.8, up 13%. Remarkably, the 9-point month-to-month increase was even larger than December's jump, which was itself quite pronounced. (The percentage increase was larger last month.) "Consumer sentiment soared in January, showing that the sharp