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U.S. Consumer Confidence Rose in December, Defying Omicron Fears
U.S. consumer confidence rose in December by more than expected as Americans’ outlook for employment and the economy improved, suggesting some resilience in the recovery despite growing concerns about the omicron variant and elevated prices. The Conference Board’s index increased to 115.8 from an upwardly revised 111.9 reading in November, according to the group’s report Wednesday. Economists in a Bloomberg survey had called for a reading of 111. The data suggest consumers remain optimistic despite new Covid-related restrictions in some parts of the country as the omicron variant spreads. Federal Reserve Chair ... (full story)