Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
U.S. consumers' short-term inflation expectations eased further in December but were unchanged over the medium term and longer-term inflation expectations edged up slightly, according to a New York Fed survey of consumers released Monday.
Median inflation expectations for the year-ahead fell 0.2ppt to 5.0%, its lowest reading since July 2021. In contrast, the three-year-ahead measure was unchanged at 5.0% and the five-year-ahead edged up 0.1ppt to 2.4%, the New York Fed said. Expectations about home price growth jumped 0.3ppt to 1.3%, while median year-ahead expectations for gas and food prices declined 0.7ppts and rent declined 0.2ppt.
Household spending expectations fell sharply in December, down 1ppt to 5.9%, while income growth expectations rose 0.ppt to a new series high of 4.6%. Fed officials have been signaling they expect the fed funds rate to reach above 5% this year. (See: MNI INTERVIEW-Fed Rates To Peak Well Above 5%, No Cuts in 2023)
Source: New York Fed
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.