The New York Federal Reserve released a closely watched survey on Monday revealing that Americans' inflation expectations declined in the short term and long term.
PGIM CEO David Hunt joins 'Barron's Roundtable' to provide an outlook on the economy and recession and discusses inflation, the Federal Reserve's management, and the difference between institutional and retail funds.
Consumers anticipate that prices will remain above the Fed's 2% goal over the next five years, projecting that the inflation rate will hover around 2.3% in 2027. Shoppers walk through the milk and cream section of a supermarket in Montebello, California, on August 23, 2022.The decline stemmed from a big drop in home price growth expectations, with Americans forecasting an increase of just 1% – the lowest since May 2020. Consumers are also anticipating that the cost of food, gas and rent will decline over the next year. The survey plays a critical role in determining howcrisis.
Chairman Jerome Powell has repeatedly warned that central bankers are on the alert for signs that inflation expectations are rising, a sign that high consumer prices could become entrenched in the economy.
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