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Household Spending Expectations Rise Sharply; Credit Access Perceptions and Expectations Deteriorate Further
The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the May 2022 Survey of Consumer Expectations, which shows that inflation expectations increased at the one-year horizon and remained stable at the three-year horizon. Household spending expectations over the next year rose sharply to a new series high. Credit access perceptions (relative to a year ago) and expectations (one year from now) both deteriorated. Similarly, households’ perceptions and expectations for current and future financial situations both deteriorated in May. The main findings from the May 2022 Survey are:
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*NY Fed Survey: May Year Ahead Expected Inflation Rises to 6.6% -- WSJ
— *Walter Bloomberg (@DeItaone) June 13, 2022
*NY Fed: May Year Ahead Inflation Expectations Reading Ties Previous Record -- WSJ
*NY Fed: May Three Year Ahead Expected Inflation Steady at 3.9% -- WSJ
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*NY Fed: May Expected Year Ahead Household Spending Growth Hits Record 9% -- WSJ
— *Walter Bloomberg (@DeItaone) June 13, 2022
*NY Fed: Expected Credit Access Outlook Deteriorates Sharply in May -- WSJ
*NY Fed: Household View on Personal Financial Situation Deteriorates -- WSJ