Institution: Consumer confidence poses economic risks

BlockBeats News: On March 14th, John Velis, a strategist at Bank of New York Mellon, stated that the decline in the University of Michigan's Consumer Confidence Index was "disappointing". He said that what is particularly worrying is the rise in long-term inflation expectations, which have previously remained relatively stable. With the shaking of consumer confidence, the weakening of demand may begin to manifest in the real economy, and this phenomenon has already appeared in some industries such as air travel. According to the inflation data released this week, air travel prices experienced a decline in February. Regarding the consumer confidence survey, Velis stated, "Evidence from many cycles suggests that these indicators are not very good predictors, but you cannot ignore the overall decline and the reasons behind it