The outlook increased across the one- and five-year horizons as respondents expressed little confidence the Fed will reach its 2% inflation goal anytime soon, a central bank survey showed.
The central bank's New York district reported in its monthly Survey of Consumer Expectations that the outlook increased across the one- and five-year horizons as respondents expressed little confidence the Fed will reach its 2% inflation goal anytime soon. All of the readings are well ahead of the Fed's 2% goal and reflective of the stubborn nature of inflation this year following a substantial disinflationary trend in 2023.
Policymakers"continue to look for additional evidence that inflation is going to return to our 2% target, and until we have that I think it is appropriate to keep the policy rate in restrictive territory," Fed Vice Chair Philip Jefferson said Monday.
Source: Real Estate Daily Report (realestatedailyreport.net)
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