NY Fed survey: Considerable deterioration in expectations for jobs and financial situation in March
|There is a considerable deterioration in households' expectations regarding their labor market and financial situation in March across all age, education, and income groups, the Federal Reserve Bank of New York said in its Survey of Consumer Expectations.
Key takeaways
"The perceived probability of losing one's job reached 18.5%, its highest level since the inception of the survey in June 2013."
"The expected growth in households' income and spending fell sharply and the perceived availability of credit worsened."
"The perceived risk of missing future debt payments increased substantially."
"Median inflation expectations remained stable at the one-year horizon at 2.5% and decreased at the three-year horizon from 2.6% to 2.4%."
"The dispersion in inflation expectations across respondents and the reported inflation uncertainty increased at both horizons."
"Median one-year ahead expected change in home prices reached a new series' low at 1.3%."
Risk rally continues
Major equity indexes in the US paid little to no mind to these remarks and were all up around 4.7% on a daily basis at the time of press.
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