NY Fed Survey Shows Steady Inflation Expectations Alongside Rising Unemployment and Debt Concerns

U.S. consumer inflation expectations remained unchanged in October while concerns about unemployment and debt obligations increased, according to the Federal Reserve Bank of New York's Survey of Consumer Expectations. Median inflation expectations held steady at 3.0% for one year, 3.3% for three years, and 3.9% for five years. However, expectations for rising unemployment climbed to their highest level since April 2020. Simultaneously, respondents reported an increased perceived probability of losing their current job alongside rising worries over missing minimum debt payments, even as confidence in finding a new role improved.