New York Fed report shows increased US consumer concerns about personal finances and employment.
U.S. consumers grew more concerned about the job market and their personal financial situations in August, even as their inflation outlook remained largely unchanged, a report from the New York Fed showed on Tuesday. The survey revealed that consumers' expectations for the unemployment rate a year from now rose to the highest level since April 2020, while their assessments of current and future financial situations, as well as their views on credit access, all declined. Inflation expectations for one year ahead held steady at 3.6%, and for five years ahead at 3%, while the three-year ahead expectation edged down from 3.3% to 3.2%.
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