given is a short about 2 minute podcast. I HAVE ATTACHED THE LINK TO IT

https://www.marketplace.org/2019/11/26/what-is-consumer-confidence/

ALSO GIVEN A SHORT ARTICLE

Article: Consumer Condence Slumps Consumer Condence Slumps in June to Lowest Level in More Than a Year Future expectations took a hit this month from higher prices and rising interest rates. ByTim Smart June 28, 2022, at 10:37 am. Consumers grew more pessimistic about the state of the economy in June, pushing the Conference Board's consumer confidence survey down below 100 and to the lowest level since February 202 1, the business group reported on Tuesday, The overall consumer index fell to 98.7 from 103.2 in May. While the present situation index declined a bit, the expectations index measuring how consumers view the short-term outlook for the economy fell sharply to 65.4 from its prior 73.7 mark. That is the lowest level since March 2013. "Consumer condence fell for a second consecutive month in June," said Lynn Franco, senior director of economic indicators at The Conference Board. "While the present situation index was relatively unchanged, the expectations index continued its recent downward trajectory r falling to its lowest point in nearly a decade." \"Consumers' grimmer outlook was driven by increasing concerns about inflation, in particular rising gas and food prices,\" Franco added. "Expectations have now fallen well below a reading of 80, suggesting weaker growth in the second half of 2022 as well as growing risk of recession by year end." Franco noted that while purchasing plans for bigeticket items like cars and appliances are holding up. that is likely to change as interest rates head higher. \"Meanwhile, vacation plans softened further as rising prices took their toll,\" she added. "Looking ahead over the next six months, consumer spending and economic growth are likely to continue facing strong headwinds from further inflation and rate hikes." Consumers are facing the double whammy of rising prices and higher interest rates. The Federal Reserve in May began a campaign of interest rate hikes designed to curb runaway ination, now pacing at an 8.6% annual rate. In turn, market rates have risen signicantly. driving mortgage rates and other consumer borrowing costs higher. A separate reading from the University of Michigan found that consumer sentiment fell to 50 in June, the lowest score ever recorded by the survey