In May 2023, DG ECFIN’s flash estimate of the consumer confidence indicator improved further in the EU (0.6 percentage points (pps.) up), while remaining broadly stable (0.1 pps. ...

tweet at 10:25am: ECB'S VILLEROY: THE PRIMARY QUESTION TODAY IS NOT HOW MUCH FURTHER TO HIKE RATES, BUT HOW LARGE IS THE PASS-THROUGH OF WHAT IS ALREADY IN THE PIPE. tweet at 10:25am: ECB'S VILLEROY: UNDERLYING PRICE PRESSURES ARE DISPLAYING PERSISTENCE. tweet at 10:35am: ECB’s Villeroy: In Current Tightening Cycle, the Lag in Policy Transmission May Be at the Upper End of 1-2 Yr Range tweet at 10:43am: *ECB’s Villeroy: ECB Clearly Already in Restrictive Territory tweet at 10:43am: ECB’s Villeroy: I Expect Today That We Will Be at the Terminal Rate Not Later Than September

tweet at 10:30am: U.S. HOUSEHOLDS REPORT DECLINE IN FINANCIAL WELL-BEING - FEDERAL RESERVE SURVEY FED: ONE THIRD OF HOUSEHOLDS CITED INFLATION AS THEIR MAIN FINANCIAL CHALLENGE FED: 73% OF RESPONDENTS SAY THEY WERE DOING 'AT LEAST OKAY FINANCIALLY' IN 2022 VS 78% IN 2021Federal Reserve Board issues Economic Well-Being of U.S. Households in 2022 report The Federal Reserve Board on Monday issued its Economic Well-Being of U.S. Households in 2022 report, which examines the financial lives of U.S. adults and their families. Overall, the report shows that higher prices have negatively affected most households and overall financial well-being declined over the prior year, though workers continued to benefit from a strong labor market. The report draws from the Board's tenth annual Survey of Household Economics and Decisionmaking, or SHED, which was conducted in October of last year. The report discusses findings related to financial well-being, income, expenses, employment, banking and credit, housing, retirement and investments, and higher education and student loans. The report, fact sheet, downloadable data, data visualizations, and a video summarizing the survey's findings are found here. The report indicates that self-reported financial well-being declined in 2022, in part reflecting ongoing concerns about higher prices. In the fourth quarter of 2022, 73 percent of adults reported either doing okay or living comfortably financially, down 5 percentage points from the previous year and among the lowest levels observed since 2016. Consistent with these changes in overall financial well-being, fewer adults reported havin