New York Fed Survey Shows Mixed Consumer Financial Views in May, With Pessimism at Multi-Month Highs but Inflation Expectations Stable
The New York Fed's May survey showed more households reporting worse financial conditions than a year earlier. Inflation expectations remained largely steady.
americanbanker.comS. 3 percent in May, according to the Federal Reserve Bank of New York's monthly Survey of Consumer Expectations released Monday. 7 percentage points from April and marked the highest reading since July 2022.
7 percent, the highest level since January 2023. Looking ahead, 36 percent of households expected their financial situations to be either much or somewhat worse over the next year. 9 percent anticipated improvement.
The net balance between those expecting better versus worse conditions reached its lowest point since October 2022. 5 percent. 0 percent.
4 percent. com reported that the survey showed the inflation outlook mostly unchanged even as perceptions of current conditions deteriorated.
The Bureau of Labor Statistics is scheduled to release the consumer price index for May on Wednesday. 9 percent. The Federal Open Market Committee is set to announce its next interest rate decision on June 17.
Markets currently price almost no chance of a rate cut at that meeting, with expectations rising for a quarter-percentage-point hike by year-end.
