US Consumer Sentiment Falls to 48.1, Second-Lowest on Record

US Consumer Sentiment Index fell 3.6 points to 48.1 in September, marking the second-lowest reading in history and second consecutive monthly decline totaling 7.1 points. Weakness spans all demographics, driven by higher fuel prices, persistent inflation, rising mortgage rates, and eroding purchasing power. Consumer despair reinforces Fed pressure on rate cuts despite elevated PCE inflation.