According to the University of Michigan survey on Friday, the index of consumer sentiment rose to 61.8 in July, continuing its rise from the previous month.
The S&P 500 Index hit new intraday (6,304.69) and closing highs (6,297.36), while the Nasdaq Composite ended at a fresh peak for a fourth straight session.
Waller predicts that PCE inflation will rise by three-tenths of a percent to 1% in 2025, assuming a permanent increase in import tariffs of approximately 10% but expects the impact to fade away soon.
U.S. equities climbed on Thursday, with the S&P 500 briefly testing a record high 6,300 level at midday in New York, bolstered by strong earnings and upbeat retail sales data that reinforced investor risk appetite.
