A report from the Federal Reserve Bank of New York reveals that Americans have a mixed outlook for inflation, with expectations for bigger price rises across key goods and services. Concerns about missing debt payments are also mounting.
Americans’ outlook for inflation was mixed last month amid expectations for bigger prices rises across a range of key goods and services, as worries about missing debt payments mounted, a report from the Federal Reserve Bank of New York said Monday. The bank found in its March Survey of Consumer Expectations that the public sees inflation a year from now at 3%, unchanged from the prior month. The expected level of inflation three years from now rose to 2.9% from 2.
The New York Fed report on what consumers foresee for the economy comes as Fed officials, traders and investors are trying to divine whether unexpectedly sturdy inflation gains at the start of the year mean that last year’s swift retreat in inflation has stalled. Fed officials have over recent days cautioned that they need to see more progress on inflation before they can sign off on an easing. Fed Governor Michelle Bowman, speaking on Friday, even warned the central bank might need to act further to cool price pressures, saying “while it is not my baseline outlook, I continue to see the risk that at a future meeting we may need to increase the policy rate further should progress on inflation stall or even reverse.
Inflation US Federal Reserve Bank Outlook Prices Goods Services Debt Payments
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