NY Fed Survey Finds Sharp Deterioration In Household Finanancial Sentiment As Long-Term Inflation Seen Rising To 15 Month High | ZeroHedge
After four months of declines in the 1-Year inflation expectation as reported by the NY Fed's consumer survey, August saw a reversal in this series which traditionally is also a proxy for the price of oil (which just hit a 2023 high this morning), however this was offset by a small decline in 3 year inflation expectations. However, the most concerning observations was that the inflation outlook at the 5-year point hit the highest since march 2022 while households turned even less (more…)