【New York Fed: Inflation Expectations Slightly Decline, Labor Market Expectations Improve】Golden Finance reports that the Microeconomic Data Center of the Federal Reserve Bank of New York has released the October 2024 Consumer Expectations Survey. The one-year inflation expectation in the U.S. for October dropped to 2.87%, marking a four-year low. The one-year inflation expectation in the U.S. for October fell to 2.87%, the lowest since October 2020; the previous value was 3.00%. The median of inflation uncertainty for three-year and five-year periods has declined. The median expectation for the U.S. unemployment rate to rise over the next year has decreased to 34.5%, the lowest since February 2022. Data shows that households' inflation expectations for the short-term, medium-term, and long-term have slightly decreased, and labor market expectations have improved, reporting lower unemployment rates and unemployment risks. Surveyed households indicated that the likelihood of finding a job after being laid off has increased. Views on credit availability improved in October, and future expectations for credit access have also risen. Households reported a decreased likelihood of failing to make minimum debt payments on time in the next three months.
