Higher wages, a drop in prices of consumer goods and an indication from the Fed that it may go slow on interest rate hikes are helping people get back the lost confidence. Lately, a number of factors are helping to lift consumer sentiment, which had been declining for the past few months as soaring inflation and the Fed’s aggressive rate hike policy to get control over it raised fears of economic slowdown. This is giving people more purchasing power, which led to record high spending during the Thanksgiving weekend, hinting at an impressive start to the holiday season.