cc9-2005

The Conference Board Consumer Confidence Index falls to its [lowest level since October 2003](http://www.conference-board.org/economics/consumerConfidence.cfm)

This survey for September runs through the 20th so it incorporated the effects of Hurricane Katrina and Rita, the spike in gasoline prices and less optimistic job market.

>The Consumer Confidence Survey is based on a
>representative sample of 5,000 U.S. households.

Despite the sharp drop, [the Fed is talking about future interest rate hikes [MarketWatch].](http://www.marketwatch.com/news/print_story.asp?print=1&guid={2AAEC1D7-BADE-4444-88C2-AB46A172A952}&siteid=mktw) Ironically, it would seem that consumer pessimism is better suited for the housing market, rather than a robust economy, by keeping mortgage rates low.