--- title: Consumer Confidence sha256: e5f399e8073704316da7e54d85401ca634f51724e4e620c0d83e2b89c4c27d6d type: raw-article source: newsletter source_url: https://www.cnbc.com/2026/05/14/consumer-confidence-us-economy-inflation-iran-war-trade.html tags: [news] fetcher: jina ingested: 2026-05-15 --- Published Time: 2026-05-14T10:00:01+0000 Markdown Content: # U.S. consumer sentiment hits new lows amid inflation and war [Skip Navigation](https://www.cnbc.com/2026/05/14/consumer-confidence-us-economy-inflation-iran-war-trade.html#MainContent) LIVE[For Investing Club members: Watch Cramer’s Morning Meeting live](https://www.cnbc.com/investingclub/video/?__source=InvestingClub|onsite|morningmeetingbline&tpcc=InvestingClub|onsite|morningmeetingbline) [![Image 4: CNBC logo](https://static-redesign.cnbcfm.com/dist/d6085c9e81f4d7365c8d.svg)](https://www.cnbc.com/) Americans still feel pessimistic about the economy. When will it get better? * [Livestream](https://www.cnbc.com/live-tv/) CREATE FREE ACCOUNT [Markets](https://www.cnbc.com/markets/) * [Pre-Markets](https://www.cnbc.com/pre-markets/) * [U.S. Markets](https://www.cnbc.com/us-markets/) * [Currencies](https://www.cnbc.com/currencies/) * [Prediction Markets](https://www.cnbc.com/prediction-markets/) * [Cryptocurrency](https://www.cnbc.com/cryptocurrency/) * [Futures & Commodities](https://www.cnbc.com/futures-and-commodities/) * [Bonds](https://www.cnbc.com/bonds/) * [Funds & ETFs](https://www.cnbc.com/funds-and-etfs/) [Business](https://www.cnbc.com/business/) * [Economy](https://www.cnbc.com/economy/) * [Finance](https://www.cnbc.com/finance/) * [Health & Science](https://www.cnbc.com/health-and-science/) * [Media](https://www.cnbc.com/media/) * [Real Estate](https://www.cnbc.com/real-estate/) * [Energy](https://www.cnbc.com/energy/) * [Climate](https://www.cnbc.com/climate/) * [Transportation](https://www.cnbc.com/transportation/) * [Investigations](https://www.cnbc.com/cnbc-investigations/) * [Industrials](https://www.cnbc.com/industrials/) * [Retail](https://www.cnbc.com/retail/) * [Wealth](https://www.cnbc.com/wealth/) * [Sports](https://www.cnbc.com/sports/) * [Life](https://www.cnbc.com/life/) * [Small Business](https://www.cnbc.com/small-business/) [Investing](https://www.cnbc.com/investing/) * [Personal Finance](https://www.cnbc.com/personal-finance/) * [Fintech](https://www.cnbc.com/fintech/) * [Financial Advisors](https://www.cnbc.com/financial-advisors/) * [Options Action](https://www.cnbc.com/options-action/) * [ETF Street](https://www.cnbc.com/etf-street/) * [Buffett Archive](https://buffett.cnbc.com/) * [Earnings](https://www.cnbc.com/earnings/) * [Trader Talk](https://www.cnbc.com/trader-talk/) [Tech](https://www.cnbc.com/technology/) * [Cybersecurity](https://www.cnbc.com/cybersecurity/) * [AI](https://www.cnbc.com/ai-artificial-intelligence/) * [Enterprise](https://www.cnbc.com/enterprise/) * [Internet](https://www.cnbc.com/internet/) * [Media](https://www.cnbc.com/media/) * [Mobile](https://www.cnbc.com/mobile/) * [Social Media](https://www.cnbc.com/social-media/) * [CNBC Disruptor 50](https://www.cnbc.com/cnbc-disruptors/) * [Tech Guide](https://www.cnbc.com/tech-guide/) [Politics](https://www.cnbc.com/politics/) * [White House](https://www.cnbc.com/white-house/) * [Policy](https://www.cnbc.com/policy/) * [Defense](https://www.cnbc.com/defense/) * [Congress](https://www.cnbc.com/congress/) * [Expanding Opportunity](https://www.cnbc.com/expanding-opportunity/) [Video](https://www.cnbc.com/tv/) * [Latest Video](https://www.cnbc.com/latest-video/) * [Full Episodes](https://www.cnbc.com/live-tv/full-episodes/) * [Livestream](https://www.cnbc.com/live-tv/) * [Live Audio](https://www.cnbc.com/live-audio/) * [Live TV Schedule](https://www.cnbc.com/live-tv/schedule/) * [CNBC Podcasts](https://www.cnbc.com/podcast/) * [CEO Interviews](https://www.cnbc.com/video-ceo-interviews/) * [CNBC Documentaries](https://www.cnbc.com/documentaries/) * [Digital Originals](https://www.cnbc.com/digital-original/) [Watchlist](https://www.cnbc.com/watchlist/) [Investing Club](https://www.cnbc.com/investingclub/subscribe?__source=investingclub|globalnav|join&tpcc=investingclub|globalnav|join) * [Trust Portfolio](https://www.cnbc.com/investingclub/charitable-trust/) * [Analysis](https://www.cnbc.com/investingclub/analysis/) * [Trade Alerts](https://www.cnbc.com/investingclub/trade-alerts/) * [Meeting Videos](https://www.cnbc.com/investingclub/video/) * [Homestretch](https://www.cnbc.com/investingclub/homestretch/) * [Jim’s Columns](https://www.cnbc.com/investingclub/jim-cramer-columns/) * [Education](https://www.cnbc.com/investingclub/education/) * [Subscribe](https://www.cnbc.com/investingclub/subscribe?__source=investingclub|dropdownnav&tpcc=investingclub|dropdownnav) ![Image 5: Join IC](https://static-redesign.cnbcfm.com/dist/93743f20be95b721880f.svg) [PRO](https://www.cnbc.com/application/pro?__source=pro|globalnav|join&tpcc=pro|globalnav|join) * [Pro News](https://www.cnbc.com/pro/news/) * [Josh Brown](https://www.cnbc.com/josh-brown/) * [Mike Santoli](https://www.cnbc.com/mike-santoli-insight/) * [Calls of the Day](https://www.cnbc.com/analyst-calls-of-the-day/) * [My Portfolio](https://www.cnbc.com/my-portfolio/) * [Livestream](https://www.cnbc.com/live-tv/) * [Full Episodes](https://www.cnbc.com/live-tv/full-episodes/) * [Stock Screener](https://www.cnbc.com/pro-stock-screener/) * [Market Forecast](https://www.cnbc.com/2023/05/11/market-strategist-survey-forecast.html) * [Options Investing](https://www.cnbc.com/pro/options-investing/) * [Chart Investing](https://www.cnbc.com/cnbc-pro-chart-investing/) * [Subscribe](https://www.cnbc.com/application/pro/?__source=pro|dropdownnav&tpcc=pro|dropdownnav) ![Image 6: Join Pro](https://static-redesign.cnbcfm.com/dist/69ae09b80acd376e9c97.svg) [Livestream](https://www.cnbc.com/live-tv/) Menu * [Make It](https://www.cnbc.com/make-it/ "makeit") * select * [USA](https://www.cnbc.com/?region=usa) * [INTL](https://www.cnbc.com/world/) * [Livestream](https://www.cnbc.com/live-tv/) Search quotes, news & videos * [Livestream](https://www.cnbc.com/live-tv/) [Watchlist](https://www.cnbc.com/watchlist/) [SIGN IN](https://www.cnbc.com/2026/05/14/consumer-confidence-us-economy-inflation-iran-war-trade.html#) [Create free account](https://www.cnbc.com/2026/05/14/consumer-confidence-us-economy-inflation-iran-war-trade.html#) Americans still feel pessimistic about the economy. When will it get better? * [Livestream](https://www.cnbc.com/live-tv/) CREATE FREE ACCOUNT [Markets](https://www.cnbc.com/markets/) [Business](https://www.cnbc.com/business/) [Investing](https://www.cnbc.com/investing/) [Tech](https://www.cnbc.com/technology/) [Politics](https://www.cnbc.com/politics/) [Video](https://www.cnbc.com/tv/) [Watchlist](https://www.cnbc.com/watchlist/) [Investing Club](https://www.cnbc.com/investingclub/subscribe?__source=investingclub|globalnav|join&tpcc=investingclub|globalnav|join) ![Image 7: Join IC](https://static-redesign.cnbcfm.com/dist/93743f20be95b721880f.svg) [PRO](https://www.cnbc.com/application/pro?__source=pro|globalnav|join&tpcc=pro|globalnav|join) ![Image 8: Join Pro](https://static-redesign.cnbcfm.com/dist/69ae09b80acd376e9c97.svg) [Livestream](https://www.cnbc.com/live-tv/) Menu [Economy](https://www.cnbc.com/economy/) # Americans still feel pessimistic about the economy. When will it get better? Published Thu, May 14 2026 6:00 AM EDT Updated Thu, May 14 2026 10:41 AM EDT ![Image 9: thumbnail](https://image.cnbcfm.com/api/v1/image/108173451-1752770193821-IMG_8083.jpg?v=1752770230&w=60&h=60&ffmt=webp) [Alex Harring](https://www.cnbc.com/alex-harring/)[@alex_harring](https://twitter.com/@alex_harring) [WATCH LIVE](https://www.cnbc.com/live-tv/) Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email ![Video 2](https://www.cnbc.com/2026/05/14/consumer-confidence-us-economy-inflation-iran-war-trade.html) 0 seconds of 0 seconds Volume 90% Press shift question mark to access a list of keyboard shortcuts Keyboard Shortcuts Enabled Disabled Play/Pause SPACE Increase Volume↑ Decrease Volume↓ Seek Forward→ Seek Backward← Captions On/Off c Fullscreen/Exit Fullscreen f Mute/Unmute m Seek %0-9 1x 1.5x 2x Listen< 1min Live 00:00 00:00 00:00 2x 1.5x 1x Key Points * The University of Michigan’s consumer sentiment index has recently hit all-time lows. * It’s one of several consumer opinion surveys showing a structural breakdown in how Americans view the economy. * Consumers are scarred by years of rapid price growth and are worn out by a series of financial shocks. In this article * [.SPX-62.78 (-0.84%)](https://www.cnbc.com/quotes/.SPX) * [GOOGL-2.66 (-0.66%)](https://www.cnbc.com/quotes/GOOGL) Follow your favorite stocks CREATE FREE ACCOUNT ![Image 10: Despite signs of a resilient economy, US consumers haven't regained their confidence](https://image.cnbcfm.com/api/v1/image/108306622-ConsumerSentiment_Thumb.jpg?v=1778707428&w=750&h=422&vtcrop=y) watch now VIDEO 2:17 02:17 Despite signs of a resilient economy, US consumers haven’t regained confidence [CNBC Digital Original Video](https://www.cnbc.com/cnbc-digital-original-video/) [American consumers](https://www.cnbc.com/2026/05/08/affirm-ceo-american-consumer-unbelievably-resilient.html) have been pessimistic for so long that now [economists](https://www.cnbc.com/2026/05/12/cpi-inflation-april-2026-.html) are wondering when — or even if — households will ever feel financially better off. [The University of Michigan Surveys of Consumers](https://www.sca.isr.umich.edu/), a closely watched bellwether, hit all-time lows in May, according to a preliminary reading released last week. That is just one of several consumer opinion surveys showing Americans have never regained confidence in the U.S. [economy](https://www.cnbc.com/economy/) since the [Covid](https://www.cnbc.com/coronavirus/) pandemic struck more than six years ago. Economists told CNBC that consumers remain scarred from years of rapid price increases, even as the annual [inflation](https://www.google.com/search?q=inflation+cnbc&rlz=1C1GCEB_enUS1193US1194&oq=inflation+cnbc&gs_lcrp=EgZjaHJvbWUqDggAEEUYJxg7GIAEGIoFMg4IABBFGCcYOxiABBiKBTIICAEQABgWGB4yCAgCEAAYFhgeMggIAxAAGBYYHjIICAQQABgWGB4yBggFEEUYPDIGCAYQRRg8MgYIBxBFGDzSAQgyNTMxajBqN6gCALACAA&sourceid=chrome&ie=UTF-8) rate cools. On top of that, Americans are worn out by a salvo of economic disruptions — from Covid to [wars](https://www.cnbc.com/wars-and-military-conflicts/) to President [Donald Trump](https://www.cnbc.com/donald-trump/)’s [tariffs](https://www.cnbc.com/2026/05/08/trump-tariffs-trade-eu-europe-deal.html) — that have defined the current decade. “It’s a series of shocks,” said Yelena Shulyatyeva, senior economist at the [Conference Board](https://www.conference-board.org/topics/consumer-confidence/), which conducts another popular gauge of economic confidence. “Consumers don’t get a break.” ### Price level pain Economists and monetary policymakers typically track the rate of inflation over a 12-month time frame. By that measure, price growth is closer to the [Federal Reserve](https://www.cnbc.com/federal-reserve/)’s target of 2% than to the [four-decade highs](https://www.cnbc.com/2022/07/14/us-inflation-jumped-by-9point1percent-in-june-a-four-decade-high-heres-what-you-need-to-know-about-inflation.html) seen during the pandemic. But shoppers have focused on the [cumulative change in prices](https://www.cnbc.com/2023/12/25/inflation-has-created-a-dark-cloud-over-how-everyday-americans-view-the-economy.html)over the past several years. From that vantage point, Cleveland Fed President [Beth Hammack](https://www.cnbc.com/2026/04/15/cleveland-fed-president-hammack-expects-interest-rates-to-stay-on-hold-for-a-good-while.html) told CNBC, there’s been about a decade’s worth of inflation in half the time. ![Image 11: Watch CNBC’s full interview with Federal Reserve Bank of Cleveland President Beth Hammack](https://image.cnbcfm.com/api/v1/image/108291700-17762575241776257519-45279427780-1080pnbcnews.jpg?v=1776257523&w=750&h=422&vtcrop=y) watch now VIDEO 13:19 13:19 Watch CNBC’s full interview with Federal Reserve Bank of Cleveland President Beth Hammack [Squawk Box](https://www.cnbc.com/squawk-box-us/) “People are starting to hear that inflation is going down, but their box of cereal is still really expensive,” said[Kyla Scanlon](https://www.cnbc.com/video/2026/02/09/why-prediction-markets-are-becoming-more-appealing-than-crypto.html), an economic commentator known for coining the term [“vibecession.”](https://www.cnbc.com/2025/04/10/america-vibecession-deepening-financial-security-falls.html) “That feels really, really bad,” Scanlon said. High prices have caused most of the decline in consumer sentiment between 2019 and 2026, according to a data analysis from [PNC Financial Services](https://www.cnbc.com/quotes/PNC/). Sticker shock also explains why a model of economic conditions stopped moving in line with consumer sentiment over recent years, the bank’s analysis said. Consumers are thinking more about the role of inflation in their lives. The share of respondents to Michigan’s survey who said they heard negative news about price growth or blamed that for their sour outlooks spiked after the pandemic began in 2020. [Google](https://www.cnbc.com/quotes/GOOGL/) searches for the term “inflation” hit all-time highs earlier this year. “No one cared about inflation until it became a problem,” said Brian LeBlanc, PNC’s senior economist. “Now, it’s something that everybody in the country is thinking about.” ### One shock after another There’s another reason economists believe confidence hasn’t rebounded: Consumers don’t have enough time to recover from one economic jolt before another raises its head. “I can’t think of a period where you’ve had shocks like these,” said Eric Winograd, an alumnus of the New York Federal Reserve Bank who is now the chief economist at asset manager AllianceBernstein. “I’m not saying that these are the biggest in magnitude, but to have this many sequential events is extremely unusual.” For sentiment to recover, U.S. consumers would need to see “positive” and “stable” economic conditions for several quarters, Georgetown University finance professor Francesco D’Acunto said. Instead of that, as geopolitical conflicts break out and as Trump continues his push for higher tariffs on trade partners, consumers have been getting “the opposite,” D’Acunto said. > I can’t think of a period where you’ve had shocks like these. > > > > Eric Winograd > > > > AllianceBernstein chief economist The plunge in sentiment mirrors trends in [reported happiness](https://www.norc.org/content/dam/norc-org/pdfs/Historic%20Shift%20in%20Americans%20Happiness%20Amid%20Pandemic.pdf) and [trust in public institutions](https://tradingeconomics.com/united-states/corruption-index) seen this decade. “Consumer sentiment isn’t the only thing that really breaks around the pandemic,” said Joanne Hsu, the director of Michigan’s survey. ### Open wallets But despite [what they tell pollsters,](https://www.cnbc.com/2026/02/18/boomcession-econonomy-gdp-recession-consumer-sentiment.html)consumers, broadly speaking, have continued to open their wallets with abandon. [Uber](https://www.cnbc.com/quotes/UBER/) and [Walt Disney](https://www.cnbc.com/quotes/DIS/) last week reported [strong customer spending](https://www.cnbc.com/2026/05/06/uber-and-disney-are-seeing-the-same-remarkable-dynamic-in-this-economy-both-stocks-are-surging.html), defying fears that shoppers would tighten their purse strings in response to price increases. “The traditional correlation between sentiment and spending has largely broken down,” said Gregory Daco, chief economist at consulting firm EY-Parthenon. “We have to depart a little bit from the traditional analysis of these gauges because of the unique circumstances that we’re currently living through.” As a result, AllianceBernstein’s Winograd said investors looking for a pulse check on consumers should monitor the direction of confidence indexes rather than pre-pandemic comparisons. Consumer opinion is still a low-tier economic data point for traders making investment decisions, he said. The [S&P 500](https://www.cnbc.com/quotes/.SPX/) reached an [all-time high](https://www.cnbc.com/2026/05/07/stock-market-today-live-updates.html) on the same day last week that Michigan released its record-low consumer sentiment reading. The benchmark stock index has more than doubled, surging roughly 130%, since the start of 2020, while Michigan’s sentiment gauge has been cut in half, tumbling 52%. “If this is the new normal, then this is the new normal,” Winograd said. “The question is: Are things getting better or worse?” ### A ‘resilient’ consumer In the near-term, sentiment is unlikely to improve as oil prices stay above $100 a barrel in the wake of the [Iran war](https://www.cnbc.com/2026/05/11/iran-war-trump-negotiation-hormuz-nuclear-talks.html), several economists told CNBC. The [national average price](https://gasprices.aaa.com/)for a gallon of gasoline soared past $4, the level at which a [2022 AAA survey](https://newsroom.aaa.com/2022/03/aaa-4-gas-the-tipping-point-for-most-americans/) found that a majority of Americans implement lifestyle changes. [Gasbuddy](https://www.cnbc.com/video/2026/02/18/gas-buddys-patrick-de-haan-talks-if-california-could-run-out-of-gas.html), a price tracking platform, said its daily active user base nearly doubled in March as the war ramped up. [Whirlpool](https://www.cnbc.com/quotes/WHR/) said last week that it experienced a [“recession-level” decline](https://www.cnbc.com/2026/05/07/whirlpool-says-iran-war-causing-recession-level-industry-decline-the-shares-are-down-20percent.html) in appliance demand due to cratering consumer confidence owing to the Middle East conflict. [McDonald’s](https://www.cnbc.com/quotes/MCD/) CEO Chris Kempczinski warned analysts that customer spending [could take a hit](https://www.cnbc.com/2026/05/07/mcdonalds-mcd-q1-2026-earnings.html) as rising gas prices pressure pocketbooks. Gas prices over $6 per gallon are displayed at a Shell station across from the Marathon Petroleum’s Los Angeles refinery in Carson, California, April 2, 2026. Justin Sullivan | Getty Images News | Getty Images What happens next in the job market can also dictate consumers’ feelings and behavior, Winograd said. Federal government data released last week showed the U.S. job market [expanded more](https://www.cnbc.com/2026/05/08/jobs-report-april-2026.html) than economists expected in April, while still pointing to a “low-hire, low-fire” environment. But even with these uncertainties and their gloomy views, American consumers — responsible for roughly two-thirds of all economic activity — are unlikely to crack, Winograd said. “It’s a foolish man who bets against the U.S. consumer,” the economist said. “The base case has to be that the consumer continues to plug along.” ![Image 12: May consumer sentiment comes in at 48.2, falling short of estimates](https://image.cnbcfm.com/api/v1/image/108304303-17782490121778249010-45792906873-1080pnbcnews.jpg?v=1778249011&w=750&h=422&vtcrop=y) watch now VIDEO 2:07 02:07 May consumer sentiment comes in at 48.2, falling short of estimates [Squawk on the Street](https://www.cnbc.com/squawk-on-the-street/) [Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.](https://www.google.com/preferences/source?q=https://www.cnbc.com/) [WATCH LIVESTREAM](https://www.cnbc.com/live-tv/)[Prefer to Listen?](https://www.cnbc.com/live-audio/) NOW Squawk on the Street UP NEXT Money Movers Trending Now 1. [![Image 13: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, on Monday, May 4, 2026.](https://image.cnbcfm.com/api/v1/image/108301684-1777983136624-108301684-1777911022463-gettyimages-2273973780-US_STOCKS.jpeg?v=1777983157&w=200)](https://www.cnbc.com/2026/05/14/stock-market-today-live-updates.html)[S&P 500 and Nasdaq fall, strained by tech pullback and yields spike](https://www.cnbc.com/2026/05/14/stock-market-today-live-updates.html) 2. [![Image 14: Traders work on the floor at the New York Stock Exchange, April 23, 2026.](https://image.cnbcfm.com/api/v1/image/108296432-17769691342026-04-23t145354z_946964958_rc22vka4lnni_rtrmadp_0_usa-stocks.jpeg?v=1776982682&w=200)](https://www.cnbc.com/2026/05/15/treasury-yields-surge-as-inflation-data-points-to-tricky-rates-path.html)[30-year Treasury yield tops 5.1%, highest in nearly a year](https://www.cnbc.com/2026/05/15/treasury-yields-surge-as-inflation-data-points-to-tricky-rates-path.html) 3. [![Image 15: U.S. President Donald Trump and Chinese President Xi Jinping tour Zhongnanhai Garden on May 15, 2026 in Beijing, China.](https://image.cnbcfm.com/api/v1/image/108307508-1778845788952-108307508-1778845294977-gettyimages-2275744006-CHINA-USA.jpg?v=1778845800&w=200)](https://www.cnbc.com/2026/05/15/trump-china-xi-taiwan.html)[Trump told Xi ‘I don’t talk about’ whether U.S. would defend Taiwan from China](https://www.cnbc.com/2026/05/15/trump-china-xi-taiwan.html) 4. [![Image 16: Starbucks' corporate headquarters seen in Seattle. The company announced its Q2 earnings on 27th Apr 2021. ](https://image.cnbcfm.com/api/v1/image/108106365-1740405125275-gettyimages-1232586527-TSCOTTSBUCKSAPR2021-2.jpeg?v=1746111115&w=200)](https://www.cnbc.com/2026/05/15/starbucks-to-lay-off-300-us-employees-close-some-regional-offices.html)[Starbucks to lay off 300 U.S. employees, shutter some regional support offices](https://www.cnbc.com/2026/05/15/starbucks-to-lay-off-300-us-employees-close-some-regional-offices.html) 5. [![Image 17: BEIJING, CHINA - MAY 14: U.S. President Donald Trump and Chinese President Xi Jinping attend a welcome ceremony at the Great Hall of the People on May 14, 2026 in Beijing, China. ](https://image.cnbcfm.com/api/v1/image/108307404-1778828623094-gettyimages-2276123035-aw1a3391_adtkmryk.jpeg?v=1778828658&w=200)](https://www.cnbc.com/2026/05/15/trump-xi-summit-the-3-big-takeaways-from-historic-meeting-in-beijing.html)[Trump-Xi summit: The 3 big takeaways from historic meeting in Beijing](https://www.cnbc.com/2026/05/15/trump-xi-summit-the-3-big-takeaways-from-historic-meeting-in-beijing.html) [](https://popup.taboola.com/en/?template=colorbox&utm_source=cnbc&utm_medium=referral&utm_content=thumbnails-rr-2:right-rail-thumbnails:)[](https://popup.taboola.com/en/?template=colorbox&utm_source=cnbc&utm_medium=referral&utm_content=thumbnails-rr-2:right-rail-thumbnails:) [Sponsored Links](https://popup.taboola.com/en/?template=colorbox&utm_source=cnbc&utm_medium=referral&utm_content=thumbnails-rr-2:right-rail-thumbnails:)[Sponsored Links](https://popup.taboola.com/en/?template=colorbox&utm_source=cnbc&utm_medium=referral&utm_content=thumbnails-rr-2:right-rail-thumbnails:) [Promoted Links](https://popup.taboola.com/en/?template=colorbox&utm_source=cnbc&utm_medium=referral&utm_content=thumbnails-rr-2:right-rail-thumbnails:)[Promoted Links](https://popup.taboola.com/en/?template=colorbox&utm_source=cnbc&utm_medium=referral&utm_content=thumbnails-rr-2:right-rail-thumbnails:) FROM THE WEB [](https://go.smartdollartips.com/69d95ac8e7ef8079da19be3d)[Don't Get a HELOC, Do This Instead Smart Dollar Tips Learn More](https://go.smartdollartips.com/69d95ac8e7ef8079da19be3d "Don't Get a HELOC, Do This Instead") Undo [](https://track.roinattrack.com/f5d97657-7b22-4c12-b894-493ce3817788)[Anyone still holding cash while central banks buy physical gold must see this Protecting My Savings Learn More](https://track.roinattrack.com/f5d97657-7b22-4c12-b894-493ce3817788 "Anyone still holding cash while central banks buy physical gold must see this") Undo [![Image 18: CNBC logo](https://static-redesign.cnbcfm.com/dist/d6085c9e81f4d7365c8d.svg)](https://www.cnbc.com/) * [](https://www.facebook.com/cnbc/) * [](https://www.twitter.com/cnbc/) * [](https://www.linkedin.com/company/cnbc/) * [](https://www.instagram.com/cnbc/) * [](https://www.youtube.com/user/cnbc/) * [](https://apple.news/T3OtoXcxtRkuHRkM7SpFP_Q) * [](https://www.cnbc.com/rss-feeds/) * [Subscribe to CNBC PRO](https://www.cnbc.com/application/pro/?__source=pro|globalfooter) * [Subscribe to Investing Club](https://www.cnbc.com/investingclub/subscribe?__source=investingclub|globalfooter) * [Licensing & Reprints](https://www.cnbc.com/cnbc-reprints/) * [CNBC Councils](https://www.cnbccouncils.com/) * [Select Personal Finance](https://www.cnbc.com/select/) * [Join the CNBC Panel](https://cnbcrsh.qualtrics.com/jfe/form/SV_dgRx5X1nYC0YjNI?Origin=cnbc) * [Closed Captioning](https://www.cnbc.com/closed-captioning/) * [Digital Products](https://www.cnbc.com/subscribe/all-access/) * [News Releases](https://www.cnbc.com/cnbc-news-releases/) * [Internships](https://www.cnbc.com/cnbc-internship-program/) * [Corrections](https://www.cnbc.com/corrections/) * [About CNBC](https://www.cnbc.com/about/) * [Site Map](https://www.cnbc.com/site-map/) * [Podcasts](https://www.cnbc.com/podcast/) * [Careers](https://www.cnbc.com/cnbc-careers-and-employment/) * [Help](https://help.cnbc.com/) * [Contact](https://help.cnbc.com/contact/) * #### News Tips Got a confidential news tip? We want to hear from you. [Get In Touch](https://www.cnbc.com/news-tips/) * #### CNBC Newsletters Sign up for free newsletters and get more CNBC delivered to your inbox [Sign Up Now](https://www.cnbc.com/sign-up-for-cnbc-newsletters/) Get this delivered to your inbox, and more info about our products and services. * #### Advertise With Us [Please Contact Us](https://together.nbcuni.com/advertise/?utm_source=cnbc&utm_medium=referral&utm_campaign=property_ad_pages) * [Ad Choices](https://www.versantprivacy.com/privacy/cookies#accordionheader3) * [Privacy Policy](https://www.versantprivacy.com/privacy) * ![Image 19: California Consumer Privacy Act (CCPA) Opt-Out Icon](https://static-redesign.cnbcfm.com/dist/17269f1b6083fd5f61be.svg)[Your Privacy Choices](https://www.cnbc.com/2026/05/14/consumer-confidence-us-economy-inflation-iran-war-trade.html) * [CA Notice](http://www.versantprivacy.com/privacy/california-consumer-privacy-act) * [Terms of Service](https://www.cnbc.com/terms) © 2026 Versant Media, LLC. All Rights Reserved. A Versant Media Company. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. [Market Data Terms of Use and Disclaimers](https://www.cnbc.com/market-data-terms-of-service/) Data also provided by[![Image 20: Reuters logo](https://static-redesign.cnbcfm.com/dist/09c161b9810767a7849e.svg)](https://www.cnbc.com/market-data-terms-of-service/) This site is now part of [Versant](https://www.versantmedia.com/brands). By continuing, you agree to our [Terms](https://versantmedia.com/terms). You also acknowledge that our updated [Privacy Policy](https://www.versantprivacy.com/privacy) applies, including your existing data. For info on your data rights, click “Your Privacy Choices” or see “[Your Rights](https://www.versantprivacy.com/privacy#accordionheader5)” in our Privacy Policy. We and our partners also use tools on this site to provide the services, personalize your experience, and for analytics, marketing, and advertising. If you previously opted out of selling, sharing, or targeted advertising on this site, you will need to update your Privacy Choice. Your Privacy Choices Continue ![Image 21: Company Logo](https://cdn.cookielaw.org/logos/941b48f1-4637-4ecd-b01d-629494daf8b2/0198a5b3-a6ba-7d33-8a6f-fda757b1330f/fb998867-357e-418a-b472-cab2b8bba534/Versant_BLogo.png) Residents (or authorized agents) of states listed in the “Your Rights” section of our Privacy Policy: You are opted out of targeted advertising, selling, or sharing, occurring on this site, for this browser and device. We received your election through our toggle or a universal opt-out preference signal. You can change your choice any time. You should also provide the information requested in this Opt-Out Form, which will enable us to take action on your opt-out election more broadly than just this site (e.g., we will be able to stop sharing your email with third parties in order to target you with adverting on other sites and services, like social media platforms, such as social media platforms). Residents (or authorized agents) of states not listed in the “Your Rights” section of our Privacy Policy: If we do not detect that you are in one of the states listed in the “Your Rights” section of our Privacy Policy, we cannot ensure that we will be able to apply your opt out choice, even if you utilize the toggle or we receive your election through your universal opt-out preference signal. ## Notice of Right to Opt-Out of Sale/Sharing and Targeted Advertising We may collect personal data from and about you through this site for “targeted advertising,” “selling,” or “sharing,” as defined by applicable privacy laws. Some [states](https://www.versantprivacy.com/privacy#accordionheader5) provide residents (or their authorized agents) with the right to opt out of these practices. See the “[Your Rights](https://www.versantprivacy.com/privacy#accordionheader5)” section of our Privacy Policy for more info. **If you reside in one of these states (or are an authorized agent) you can opt out of targeted advertising, selling, or sharing, occurring on this site by moving the toggle below to the left and clicking “Confirm My Choice.”** Your choice through the toggle is specific to this site. If you access other Versant sites and services, you will need to opt out for each. Also, if you clear your cookies on this browser or use another browser or device, you will need to opt out again. You can change your choice any time. **In addition to the toggle, you should also provide the information requested in our “Opt-Out Form” (accessible by clicking the “+” below), which will enable us to take action on your opt-out election more broadly than just on this site (e.g., we will be able to stop sharing your email with third parties in order to target you with adverting on other site and services, such as social media platforms).** You may also enable where available and provided for under applicable privacy laws, a universal tool that automatically communicates your opt out preference, such as the Global Privacy Control (“GPC”). If detected, we will process your GPC signal as if you had opted out through the toggle. If you opt-out, you may continue to see advertising, including ads that may be based on personal information processed before you opted out. ### Manage Opt-Out Preferences: Move Toggle to Left and Click “Confirm My Choice” and then Complete Opt-Out Form (accessible by clicking “+” below) #### Allow Sale of My Personal Info and Sharing/Processing for Targeted Ads - [x] Allow Sale of My Personal Info and Sharing/Processing for Targeted Ads **Residents (or authorized agents) of states _listed_ in the “Your Rights” section of our Privacy Policy:** To opt out of targeted advertising, selling, or sharing occurring on this site for this browser and device, move the toggle to the left and click “Confirm My Choice.” **Residents (or authorized agents) of states _not listed_ in the “Your Rights” section of our Privacy Policy:** If we do not detect that you are in one of the states listed in the “Your Rights” section of our Privacy Policy, we cannot ensure that we will be able to apply your opt out choice, even if you utilize the toggle. Please note, your choice through the toggle is specific to this site, for this browser and device. If you access other Versant sites and services, you will need to opt out for each. Also, if you clear your cookies on this browser or use another browser or device, you will need to opt out again. You can change your choice any time. If you opt-out, you may continue to see advertising, including ads that may be based on personal data processed before you opted out. #### Opt-Out Form Always Active You should also provide the info requested in this [Opt-Out Form](https://privacyportal.onetrust.com/webform/941b48f1-4637-4ecd-b01d-629494daf8b2/6d056e9f-08d3-433f-a209-afb06bb411c6), which will enable us to take action on your opt-out election more broadly than just this site (e.g., we will be able to stop sharing your email with third parties in order to target you with adverting on other sites and services, such as social media platforms). ### Cookie List Clear * - [x] checkbox label label Apply Cancel Consent Leg.Interest - [x] checkbox label label - [x] checkbox label label - [x] checkbox label label Confirm My Choice [![Image 22: Powered by Onetrust](https://cdn.cookielaw.org/logos/static/powered_by_logo.svg)](https://www.onetrust.com/products/cookie-consent/) ![Image 23](https://bat.bing.com/action/0?ti=16018830&Ver=2&mid=ec68efaf-19bb-4ea4-9331-34538cda8eea&bo=1&sid=e3cd3ea0506911f1aa086908563438a1&vid=e3cd60d0506911f1ab007f8fd6217ce9&vids=1&msclkid=N&pi=918639831&lg=en-US&sw=800&sh=600&sc=24&tl=U.S.%20consumer%20sentiment%20hits%20new%20lows%20amid%20inflation%20and%20war&kw=Breaking%20News%3A%20Investing,Investment%20strategy,Breaking%20News%3A%20Markets,Markets,Stock%20markets,Donald%20J.%20Trump,Breaking%20News%3A%20Economy,Economy,S%26P%20500%20Index,Alphabet%20Class%20A,Consumer%20prices,Inflation,United%20States,Michigan,Prices,Economic%20events,%40LCO26N,Whirlpool%20Corp,Uber%20Technologies%20Inc,Walt%20Disney%20Co,PNC%20Financial%20Services%20Group%20Inc,Invesco%20Dynamic%20Leisure%20and%20Entertainment%20ETF,New%20York,McDonald%27s%20Corp,Donald%20Trump,business%20news&p=https%3A%2F%2Fwww.cnbc.com%2F2026%2F05%2F14%2Fconsumer-confidence-us-economy-inflation-iran-war-trade.html&r=<=1391&evt=pageLoad&sv=2&cdb=AQER&rn=676435)![Image 24](https://bat.bing.com/action/0?ti=16018830&Ver=2&mid=ec68efaf-19bb-4ea4-9331-34538cda8eea&bo=2&sid=e3cd3ea0506911f1aa086908563438a1&vid=e3cd60d0506911f1ab007f8fd6217ce9&vids=0&msclkid=N&ea=subscribe&en=Y&p=https%3A%2F%2Fwww.cnbc.com%2F2026%2F05%2F14%2Fconsumer-confidence-us-economy-inflation-iran-war-trade.html&sw=800&sh=600&sc=24&evt=custom&cdb=AQER&rn=896372)