NY Fed Finds Stable, 3% Inflation Expectations

The U.S. public’s near-term inflation expectations were largely stable in January, a Federal Reserve Bank of New York report found, as respondents to the survey also predicted a notable pullback in future spending. The expected level of inflation at both the one-year and three-year ahead horizons was unchanged at 3% last month, the bank said in its latest Survey of Consumer Expectations released on Monday, while the expected level of inflation five years from now moved to 3% from 2.7% in December. January also saw the public predict bigger future...