Americans Expect Stable Inflation and Improved Finances, New York Fed Survey Finds

Americans’ outlook on inflation remained stable in June, with expectations for one-year inflation at 3%. The New York Fed Survey of Consumer Expectations also found improved views on personal finances and easier credit access. The survey showed mixed expectations for future earnings and income, but an improved outlook for employment. The Philadelphia Fed reported a decrease in credit card delinquencies in the first quarter, with average credit card rates at 24.62%. Near-term inflation expectations have been volatile due to trade tensions, but long-term expectations remain stable, easing worries about future inflation. Fed officials anticipate tariffs to boost inflation this year, with potential rate cuts in the future. Fed Chair Jerome Powell emphasized the importance of keeping inflation expectations in check.

Read more at Yahoo Finance: US consumers happier about finances, expect stable inflation, New York Fed says