Consumer sentiment drops for 4th month as inflation expectations rise, worrying Fed
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Americans' consumer sentiment worsened for the 4th straight month in November as interest rates rose.
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Sentiment fell most among young and lower-income consumers, while it rose for top stock holders.
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Inflation expectations increased to the highest levels since 2011, worrying the Fed.
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Fed Chair Powell said more tightening may be needed to reach the 2% inflation target.
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Stocks dropped after Powell's hawkish comments before recovering slightly the next day.