The Conference Board’s October survey due Tuesday is expected to show U.S. consumer confidence weakened again after September fell to its lowest level in more than a decade.
High inflation is driving the slide, with rising gas and grocery prices squeezing household budgets as a global oil shortage linked to the U.S. war with Iran adds pressure.
The Federal Reserve ends a two-day meeting Wednesday and is widely expected to hold rates steady after September’s hike, though Wall Street still sees one more increase in December.
That leaves policymakers balancing stubborn inflation against a labor market showing fresh stress, with weaker confidence and higher borrowing costs threatening broader economic growth ahead of the Nov. 3 midterms.