NY Fed October survey shows 1, 3 and 5 year inflation expectations unchanged
- One-year inflation unchanged at 3%
- Three-year inflation unchanged at 3.3%
- Five-year inflation unchanged at 3.9%
- Expectations of rising unemployment at highest since April 2020
- Year-haead epxected gas price change moderates
- Credit access expectations unchanged
- Households more upbeat on personal finance
This survey runs in contrast to much of the mainstream thinking, particularly around unemployment. That might simply be highlighting AI angst.