New York Fed inflation expectations shows:
- 1-year rises to 3.3% versus 3.0%
- 3-year falls to 2.8% from 2.9% last month
- 5-year was is to 2.8% from 2.6% last month
also,
- Confidence increases in keeping one’s job, decreases in finding a new one
- Expectations for home prices, commodities all rise
- Earnings growth expectations decline to 2.7% but remain above pre-pandemic trends.
Fed is likely not happy that inflation is being anchored near 3%. Recall last week the Michigan one year inflation expectations also came in stronger than expected.
This article was written by Greg Michalowski at www.forexlive.com. Source