September ECB meeting preview: Easy does it

The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the August 2024 Survey of Consumer Expectations, which shows inflation expectations remained unchanged at the short- and longer-term horizons, and rebounded somewhat at the medium-term horizon after a sharp decrease last month. Labor market expectations were mixed, but largely stable. Households were more optimistic about the availability of credit a year from now. Delinquency expectations rose slightly again, to the highest level since April 2020. The main findings from the August 2024 Survey are: Inflation • Median inflation expectations at the one- and five-year horizons remained unchanged in August at 3.0% and 2.8%, respectively. Median inflation expectations at the three-year horizon rebounded somewhat from the low July reading, increasing from 2.3% to 2.5%. The survey’s measure of disagreement across respondents (the difference between the 75th and 25th percentile of inflation expectations) increased at all three horizons. post: NEW YORK FED: AUGUST YEAR-AHEAD EXPECTED INFLATION UNCHANGED AT 3%. post: NY FED: AUGUST THREE-YEAR-AHEAD EXPECTED INFLATION AT 2.5% VS. 2.3% IN JULY. post: NY FED: AUGUST FIVE-YEAR-AHEAD EXPECTED INFLATION UNCHANGED AT 2.8%.

Wholesale inventories in the United States rose by 0.2% in July compared to June's revised figures and reached $903.5 billion, according to the US Census Bureau report delivered ...