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US Consumers See Lower Inflation and Spending Growth in Fed Survey
American consumers’ expectations for inflation and spending growth fell last month to the lowest level in records going back to June 2013, according to a monthly Federal Reserve Bank of New York survey released Tuesday. The median respondent to the New York Fed’s September Survey of Consumer Expectations predicted annual consumer-price inflation three years from now would be 2.8 percent, down from 2.9 percent in the August poll. Median expected inflation a year ahead fell to 2.7 percent from 2.8 percent. The median consumer also predicted an increase in household spending of only 3.2 percent over the next year, ... (full story)