The Federal Reserve Bank of New York’s latest Survey of Consumer Expectations showed that pessimism about the US’ households financial situation continued to decline.
Additional takeaways
“Median inflation expectations increased 0.1 percentage point in August to 3.0% at the one-year horizon and increased 0.3 percentage point to 3.0% at the three-year horizon.”
“Median one-year ahead expected earnings growth remained flat at 2.0% in August, below its 2019 average level of 2.3%.”
“The mean perceived probability of losing one’s job in the next 12 months increased for the second consecutive month from 16.0% in July to 18.0% in August, well above its February reading of 13.8%.”
“Median expected household income growth increased by 0.1 percentage point to 2.2% in August, remaining well below its 2019 average of 2.8%.”
Market reaction
The US Dollar Index showed no reaction to this report and was last seen losing 0.32% on a daily basis at 92.98.
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