Consumer credit demand declined in 2022 with most credit application rates stable or weakening, but a notable exception was a rise in credit card applications, according to the Federal Reserve Bank of New York’s latest Survey of Consumer Expectations Credit Access Survey, released today.
Consumer inflation expectations increased in the short, medium and longer terms in October, according to the Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations released today.
Longer-run inflation expectations during the past year and a half have remained “remarkably stable” at levels broadly consistent with the Federal Open Market Committee’s 2% target, Federal Reserve Bank of New York President John Williams said today.
Consumers’ inflation expectations continued to decline in the short term but increased slightly in the medium and longer terms, according to the Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations released today.
More consumers believe inflation will ease in the near and long terms, with inflation expectations declining across all horizons tracked in August, according to the Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations released today.
Expectations about price increases for gas and food for the coming year fell sharply, and home price growth expectations and year-ahead spending growth expectations also pulled back from recent highs.
More U.S. consumers believe inflation is on the horizon in the short term but are more optimistic about an economic downturn in the medium and longer terms, according to the N.Y. Fed.
Facing rising household costs, a looming recession and record levels of debt, 59% of U.S. bank customers expect help to improve their financial health, but most feel that banks aren’t delivering, according to a recent survey.
Americans’ expectations for how much more they will spend in the next year increased sharply to 9% in May from 8% the month earlier. It is the fifth consecutive increase and a new high, according to the Federal Reserve Bank of New York.
Forty-eight percent of consumers prefer a phone call over an email for urgent financial matters, and 63% reported ignoring calls from their financial institution because they didn’t recognize the number.