The latest Forbes Advisor-Ipsos Consumer Confidence biweekly tracker found that consumer confidence dipped below 50 points for the first time since President Joe Biden was elected president. Our headline consumer confidence index saw its biggest drop in nearly five months—and that was before the Federal Reserve delivered an historic 75 basis point rate hike, the largest in 28 years. The survey, conducted by Ipsos, measures consumer confidence over time. Recession Fears Pummel Consumer ConfidenceNearly every aspect of the Forbes Advisor-Ipsos consumer confidence index dropped this week. Editor’s note: In the first version of this story, we said the consumer confidence index dropped below 50 points for the first time since before the pandemic.

Source: Forbes June 17, 2022 12:44 UTC