New York Fed survey shows near term U.S. inflation expectations higher in September, but stable on a 5-year view
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The New York Fed’s inflation expectations survey still shows the 5-year view stable at 3.0%, despite the 1-year view accelerating to 3.9% from 3.6%, reaching its highest since June 2023.
The 3-year view pickled up to 3.3% from 3.2%, reversing an August slowing. The 3-year view has picked up since the start of the Iran war. The 5-year view has not responded to the Iran war but is running a little firmer this year than in recent years. The Fed cannot afford to be complacent.