Federal Reserve Bank Press Release
NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the April 2022 Survey of Consumer Expectations, which shows that inflation expectations fell at the one-year horizon and rose at the three-year horizon. Households remained positive about their labor market prospects with earnings growth expectations stable at its series high and job-loss expectations hovering near its series low.
Household spending expectations over the next year also rose to a series high. However, perceptions of credit access relative to a year ago fell for the fourth consecutive month, and expectations of credit access one year from now also declined to a series low.
Median inflation expectations decreased in April at the one-year horizon to 6.3% from 6.6% in March. Median inflation uncertainty—or the uncertainty expressed regarding future inflation outcomes—increased slightly to a new series high at the short-term horizon and was unchanged at its series high at the medium-term horizon.