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US Consumers See Worse Job Market, Muted Inflation in Fed Survey
Americans’ perceptions of the job market worsened in October while their expectations for inflation edged lower, according to a monthly survey from the Federal Reserve Bank of New York. Unemployment expectations rose for a third straight month as consumers assigned an average 43% probability — the highest since April — to the likelihood the US unemployment rate will be higher one year from now, survey results published Friday showed. Expectations for consumer price increases in the year ahead ticked down to 3.2% in October from 3.4% in September, while measures for three and five years ahead were little changed ... (full story)
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