U.S. consumer confidence jumps to a two-year high as inflation eases

U.S. consumer confidence shot to the highest level in two years this month as inflationary pressures eased and the American economy continued to show resilience in the face of dramatically higher interest rates. The Conference Board, a business research group, said its consumer confidence index rose to 117 in July from a revised 110.1 in June. The reading was higher than than the 110.5 economists had expected and was the highest since July 2021. Americans’ assessment of current economic conditions and the outlook for the next six months both improved.