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Fed Survey Shows Americans Expect Biggest Pay Hikes in Years

  • New York Fed survey results jibe with jobs report wage gauge
  • Percent of consumers reporting improved finances hits new high
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U.S. consumers said they expected to see the fastest wage growth in several years when polled in January, according to a monthly Federal Reserve Bank of New York survey.

Consumers polled expected earnings to rise 2.73 percent in the coming year, the most since data collection began in 2013, according to results of the New York Fed’s Survey of Consumer Expectations released on Monday. January was only the third month in the survey’s 56-month history in which expected wage growth topped expected consumer price inflation, which fell slightly, to 2.71 percent.