Do you prefer direct links to content? Check out our sister site at Uncanceled.news.
A customer counts his cash at the register while purchasing an item at a Best Buy store in Flushing, N.Y., on March 27, 2010. (Jessica Rinaldi/Reuters) U.S. consumers increased their short-term and medium-term inflation expectations again in September, but they lowered their views on how much home prices, fuel costs, and other expenses will rise over the next year, according to a survey released on Tuesday by the New York Federal Reserve.
Median expectations for what inflation will be over the next year rose for the eleventh consecutive month to 5.3 percent, the highest level since the survey was launched in 2013. Expectations for what inflation will be in three years rose to a median of 4.2 percent, up from 4.0 percent in August, also reaching another series high.
The latest gauge of consumers’ expectations come as Fed officials are trying to decipher whether the higher inflation spurred by the pandemic has lasting power—which could require a policy response—or if it will subside on its own. Real estate signs advertise new homes for sale in multiple new developments in York County, S.C., on Feb. 29, 2020. (Lucas Jackson/Reuters) A separate blog post published by the New York Fed last month found that longer-term inflation expectations remain well-anchored this year when compared to two years ago, before the pandemic.
Fed Chair Jerome Powell said the central bank could start reducing its asset purchases from the current pace of $120 billion a month as soon as November. Policymakers set a higher bar for raising interest rates and are split on when they expect rates to rise, with nine out of 18 Fed officials saying at the September meeting that they expect the first rate increase as early as next year.
The September survey, which is based on a rotating panel of 1,300 households, showed that consumers lowered their expectations for how much some essential expenses will rise over the near term.
The price of gas is expected to rise by a median of 5.9 percent over the next year, down “sharply” from 9.2 percent in August. Expectations for home prices decreased for the fourth […]
PLEASE Help Us Fight the Good Fight
Today’s Goliath is the Mainstream Media Industrial Complex that brainwashes the masses.
Our mission is very straightforward: To counter the false narratives and nefarious agendas destroying America today. It isn’t easy for obvious reasons; despite incredible growth over the last year we are still a very tiny fish in a huge media pond. But we’re fighting and we will continue to do so, Lord willing, for as long as we possibly can. The battle for America’s present and future is too important for us to back down to the giants that stand in our way.
We need help. I don’t want to say “desperately,” but the need is definitely great. You will notice we do not bow to Big Tech by running Google or Facebook ads. So many in conservative media do because it’s lucrative, but I just can’t imagine taking a paycheck from the minions of evil. That’s why we’re so dependent on our readers to pay the bills and expand our reach.
If you have the means, please donate through our GivingFuel page or via PayPal. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
All ORIGINAL content on this site is © 2021 NOQ Report. All REPUBLISHED content has received direct or implied permission for reproduction.
With that said, our content may be reproduced and distributed as long as it has a link to the original source and the author is credited prominently. We don’t mind you using our content as long as you help out by giving us credit with a prominent link. If you feel like giving us a tip for the content, we will not object!
JD Rucker – EIC