NY Fed 1 year inflation
NY Fed 1 year inflation

The monthly New York Fed inflation expectations survey is out:

  • 1-year inflation seen at 3.0% vs 3.0% prior
  • Three year inflation seen at 2.4% vs 2.6% prior
  • Five year inflation seen at 2.5% vs 2.5% prior
  • Median expected home price change 3.0% vs 3.0% prior
  • Feed rise expected lowest since March 2020
  • Gasoline price expected lowest since Dec 2022

The consumer mood on inflation is certainly improving and that should clear the way for lower rates at some point.