New York Fed: Inflation expectations fell slightly, labor market expectations improved

Odaily Odaily News Odaily Odaily News The Microeconomic Data Center of the Federal Reserve Bank of New York released the October 2024 Consumer Expectations Survey. The one-year inflation expectations in the United States fell to 2.87% in October, a four-year low. The one-year inflation expectations in the United States fell to 2.87% in October, the lowest since October 2020; the previous value was 3.00%. The median uncertainty of three-year and five-year inflation has declined. The median expectation of rising unemployment in the United States in the next year fell to 34.5%, the lowest since February 2022. The data showed that households' expectations for inflation in the short, medium and long term declined slightly, and labor market expectations improved, reporting lower unemployment rates and unemployment risks. Households surveyed said that if they were laid off, the possibility of finding a job has increased. Views on credit access improved in October, and expectations for future credit access also increased. Households report a lower probability of failing to repay their minimum debts on time in the next three months. (Jinshi)