Source: Federal Reserve Bank of New York.
The Federal Reserve Bank of New York’s Survey of Consumer Expectations revealed an increase in the short-term inflation expectations as medium-term inflation expectations remained unchanged. DJI gains 0.24%.
- The median inflation expectations increased by 0.8 percentage points in June to reach a one-year high of 4.8%.
- The households’ labor market expectations will continue to expand with unemployment expectations and possible likelihood of job loss.
- The perceived possibility that the U.S. stock prices will expand in 12 months from now dropped to 40.2%, below its 2020 average of 44.3%.
- The perceived probability of getting a job in the next 3 months rose by 0.2 percentage points to 44.2%, the highest level since February 2020.
- The household’s 12-month income and spending growth expectations recorded a sustainable upward trend. The price growth of homes remained high.
- The perceptions about current financial situations of households deteriorated compared to past year as more people reported being worse off financially compared to previous year.