NY Fed 12-month consumer inflation expectations fall to 2.42% from 2.54%

Consumer inflation expectations from the New York Fed

• One year inflation seen at 2.42% vs 2.54% in Dec

The Fed is highly sensitive to inflation expectations data, especially with market-based inflation expectations like 5-year breakevens down to 1.02%.

Yellen in this week's Humphrey Hawkins will be all about that data dependency.