U.S. Consumer Confidence Eases From More Than 15-Year High

Consumer confidence retreated in January from a more than 15-year high as Americans tempered their economic expectations and waited for President Donald Trump and lawmakers to deliver on promises to boost employment and jump-start growth, data from the New York-based Conference Board showed Tuesday.

Despite the dip in January, American households remain upbeat as the Trump administration and Congress consider fiscal policy aimed at stoking growth. Respondents had more favorable views of current economic and labor-market conditions, though they anticipate higher inflation and interest rates over the coming year. Optimism does little for the economy unless it translates into faster consumer spending, which cooled in the fourth quarter.