The University of Michigan-Thomson Reuters consumer-sentiment gauge rose to a preliminary February reading of 76.3 -- the highest level since November -- from a final January reading of 73.8, reports said Friday
Economists polled by MarketWatch had expected a February reading of 75, due to higher stock prices, though there are also negative factors, such as ongoing fiscal uncertainty, and higher payroll taxes and gas prices
The gauge increased in January after plunging in December, when consumers were worried about the fiscal cliff
The sentiment gauge, which covers how consumers view their personal finances as well as business and buying conditions, averaged about 87 in the year before the most recent recession
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In a speech Thursday, Bullard, a voting member on the Fed’s interest-rate committee, said an interest-rate increase could come by June 2014 as the unemployment rate could fall below 6.5%. That’s the threshold the Fed has set in order to consider a rate hike.
Bullard’s remarks came a day after minutes from the Federal Reserve’s meeting in January indicated many policy makers are worried about the costs and risks arising from its bond-buying program. Officials will consider changes at the Fed meeting in March.
Other U.S. economic data released Thursday were mixed. Weekly jobless claims rose sharply to 362,000, but were still at a level that suggests slow and steady improvement in the labor market
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