One-year inflation expectations are down 0.3%, dropping to a 4.1% rate — the lowest annual outlook since May 2021, according to the New York Fed’s Survey of Consumer Expectations in May.
The U.S. Federal Reserve will set the target for short-term interest rates through a two-day Federal Reserve meeting concluding June 14, Schlesinger informed, where it could be the first time the Fed chooses to hold interest rates steady in 18 months.
“But, there are some people who are still worried that it’s not just about inflation, it’s about banks not lending as much and that could hurt the economy,” Schlesinger continued. “So the Feds kind of walking a tightrope right now, and we’re going to be very intent on listening to what the Fed Chair Jerome Powell says at his press conference.”
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