Michigan survey chief with comments on the final numbers

  • All Americans have positive jobs market views
  • Consumer spending outlook remains fairly good
  • Consumers want more discounts
  • Holiday season won't be terrible
  • Retailers will see pressures on margins
  • Higher income households are discount hunting too
  • Higher income households are being more guarded
  • Fewer upper earners say they will be better off
  • Last recession taught consumers the need to save
  • Consumers have shown a decline in economic aspirations

The biggest take for the Fed will be the jump in inflation expectations