If Powell was on the fence about whether to hike rates in two weeks after the June "hawkish skip" or whatever the said pause is now called, the latest monthly data just released by the NY Fed Consumer Survey should help allay his fears. According to the NY Fed, near-term inflation expectations - those for the one-year horizon and which traditionally just follow the latest move in the price of gasoline - dropped again to 3.83% in June from May's 4.07%, the third straight decline - one which was broad-based across all demographic groups - and the lowest reading since April 2021. The measure has now fallen by 3 ... (full story)