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  • Inflation outlook rises, fueled by expected increases for housing costs, New York Fed survey shows

    From cnbc.com

    Consumers in April raised their expectations for price increases both in the near and longer term, fueled by higher inflation in home prices along with fuel and energy, according to a New York Federal Reserve survey released Monday. The central bank’s New York district reported in its monthly Survey of Consumer Expectations that the outlook increased across the one- and five-year horizons as respondents expressed little confidence the Fed will reach its 2% inflation goal anytime soon. On a one-year basis, the expectation increased to 3.3%, up 0.3 percentage point from March and the highest since November 2023. For ... (full story)

Added at 11:08am

  • Consumers Expect Higher Short-Term Inflation and Home Price Growth

    From newyorkfed.org

    The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the April 2024 Survey of Consumer Expectations, which shows that inflation expectations increased at the short-term and longer-term horizons, while decreasing at the medium-term horizon. Home price growth expectations reached the highest level since July 2022. Spending growth expectations also increased. The average perceived likelihood of voluntary and involuntary job separation declined, as did the perceived likelihood of finding a job in the event of a job loss. The main findings from the April 2024 Survey are: Inflation Median ... (full story)

Isn’t this good news for Gold? How is it that the price is going down?
This was really surprising news that’s why I usually follow price action and don’t care about fundamentals
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Some traders call it a game of "silly buggers". The US Fed's main purpose since 2008 has been to prop the NYSE up, though you won't find that mandate anywhere in writing.
Quoting jxr
Isn’t this good news for Gold? How is it that the price is going down?
If I had a penny for everytime someone asks this.

Conceptually gold is a hedge against *unchecked inflation*.

If inflation expectations rise but do so alongside interest rate expectations.... gold typically sells off.
Not to mention the that this is old news, isn't it? While perhaps slightly different polling, Fridays UoM inflation expectation figures showed an increased expectation. This reaffirms that survey, but doesn't have the shock value.
its shocking ........
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  • Story Stats
  • Posted: May 13, 2024 11:04am
  • Submitted by:
     Newsstand
    Category: High Impact Breaking News
    Comments: 6  /  Views: 7,305

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