Consumer confidence for July jumps to 90.9, the Conference Board reports on Tuesday. It was the highest reading since October 2007 as the economy was slipping into a recession. Credit Union National Association chief economist Mike Schenk tells TheStreet's Joe Deaux that consumer confidence looks solid, but that in other recoveries the number should be above 100. Schenk says what gives him optimism is that consumers aren't just saying they're more confident, but they're also taking out more loans and acting more upbeat than they have since the beginning of the 2008 financial crisis. TheStreet's Economics Correspondent Joe Deaux has details.

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