November 12, 2024 – 8:03 AM PST
(Reuters) – U.S. consumers in October grew more confident about inflation continuing to ease and in the health of the job market, and for the first time in five months they saw a lower risk of defaulting on their debt, a survey from the Federal Reserve Bank of New York showed on Tuesday.
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Households on average saw inflation over the next year at 2.9%, down from 3.0% in September and the lowest estimate for near-term price increases in four years, according to the New York Fed’s monthly Survey of Consumer Expectations. Inflation expectations also fell at the three-year and five-year horizons – to 2.5% and 2.8%, respectively.
Those are findings likely to be welcomed by the Fed as it works to keep…
