Consumers are upbeat about the economy, with a firm labor market bolstering confidence despite elevated price pressures. Consumers are willing to open up their wallets as they feel optimistic about current business conditions. They are also hopeful about their future well-being, thereby squashing recession fearmongering.Consumers’ sentiment bounced back in May after weakening in the past three months mostly due to concerns about the high cost of food and gas prices. The Conference Board stated that the cons ...