US Inflation Outlook Stable, Credit Pessimism Rises in Fed Study
- Median near-term inflation expectations rose slightly to 3.6%
- Consumers saying credit harder to tap hit 10-year high
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US consumers’ inflation expectations were mostly stable in August, but households grew more concerned about their finances and more pessimistic about the job market, according to a Federal Reserve Bank of New York survey.
Median one-year-ahead inflation expectations rose slightly last month to 3.6% from 3.5% in July, the New York Fed said Monday. Expectations for what inflation will be at the three-year horizon declined to 2.8% from 2.9%. And the outlook for inflation in five years ticked higher to 3.0% from 2.9%.