Consumers Expect Inflation, Spending to Rise in Coming Year: NY Fed

Newsmax ^ | 4-11-2022

[blam]

U.S. consumers boosted their expectations for inflation and household spending in the year ahead as the price of gas and food steepens, but tempered their view of inflation over the medium-term, according to a survey released on Monday by the New York Federal Reserve.

Expectations for where inflation will be in one year rose to 6.6% in March, the highest since the survey was launched in 2013 and up from 6.0% in February. Household spending was seen growing 7.7% in the year ahead, also a series high. Just 23% saw their household finances improving in the year ahead, the smallest share since the survey began.

Americans are experiencing the worst bout of inflation in decades, and it is getting worse. Economists polled by Reuters expect a report out on Tuesday will show consumer prices rose 8.4% in March, up from 7.9% in February, as Russia's invasion of Ukraine drives up food and energy prices.

A Wall Street Journal poll of economists found that they believe there is nearly a third, 28%, chance of a recession occuring in the next 12 months.

To combat 40-year-high inflation, the Federal Reserve last month raised interest rates for the first time in three years and is expected to accelerate the pace of rate hikes in coming months. The New York Fed survey suggests consumer see little short-term relief, as they anticipate the price of food, gas and medical care to rise 9.6%, and expect rent to jump 10.2%. Home prices were expected to rise 6% in the coming year, faster than the 5.7% expected last month.

But Fed policymakers are also closely tracking farther-ahead inflation expectations for signs that consumers see current price increases continuing. Monday's survey offered some comfort there: while near-term inflation expectations have soared, consumers' longer-term expectations

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[brownsfan]

Moral of the story for the American public?

Pay attention to who you vote for!

[rdl6989]

You don’t say. Brandon has plenty of time to make things worse.

[Diana in Wisconsin]

Y’all KNOW that even if the Inflation Beast is stopped or slowed, prices you see today are more than likely the lowest you’re ever going to see again in your lifetime.

I bit the bullet and bought a 2021 F150 truck through a private sale this week. (I had been looking for over a YEAR!) A friend of mine bought a new freezer, fixed her aging hot water heater and furnace, and did a few other costly upgrades to her (paid off) home because NOW is the time to do this stuff if it needs to be done.

If you need to, re-finance QUICK, and/or throw every spare DIME at your mortgage right now. Get out of CC debt and pay off your car. Batten down the hatches in all areas of your financial life.

Happy Days Are Here Again! Thanks, Brandon! *SPIT*

P.S. Shadow Stats has Consumer Inflation pegged at 17% right now - and rising!

[Clemenza]

Well hopefully the dollar as reserve currency fetishists will wake up to the fact that our currency is merely a piece or paper and/or blips on a screen tied to nothing other than trust in the government.

[Amendment10]

Trump's new patriot-controlled Congress in 2023 now needs to start working with Trump on how to defend themselves when the desperate Democrats who are allegedly manufacturing inflation blame their dirty work on the new Republican Congress.

Insights welcome.

Also, patriots are reminded that they must vote twice this election year. Your first vote is to primary career RINO incumbents. Your second vote is to replace outgoing Democrats and RINOs with Trump-endorsed patriot candidates.

Again, insights welcome.

[Signalman]

I hope it does. I’m willing to pay higher prices if it will ensure that the Bolsheviks lose big in Nov.

[combat_boots]

12%+ per month

https://www.naturalnews.com/2022-04-10-food-inflation-soars-corporate-media-blames-putin.html

[blam]

"Y’all KNOW that even if the Inflation Beast is stopped or slowed, prices you see today are more than likely the lowest you’re ever going to see again in your lifetime."

I agree.

As always, excellent advice.

[blam]

Fed Losing Control As Gloom Spreads, Consumer Inflation Expectations Soar To A Mindblowing 6.6%

[Diana in Wisconsin]

Thank you kind Sir! I LOVE everything you post - but you already knew that. :)

The Motto of others: “You never know how STRONG you are until being strong is your only choice.”

My Motto: “You never know how THRIFTY you are until being thrifty is your only choice.”

You can apply this to ANYTHING Mother Government throws in your path. :)

“You never know how Conservative you are until being Conservative is your only choice!”

P.S. Ladies? Buy the CUTE shoes! Buy the GOOD chocolate! Buy the GOOD wine! You’ll never find them at these prices again! :)