New York Fed survey: U.S. household financial pessimism hits highest level since July 2022
By
Jeff Cox
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Summary
A New York Fed survey reveals that U.S. household financial anxiety has reached its highest level since July 2022, with 13.3% of respondents saying their financial situation is "much worse" than a year ago — a nearly four-year high. While inflation expectations remained mostly stable, the overall perception of economic conditions has deteriorated significantly.
Key quotes
· 2 pulledThe share of those seeing their current situation as 'much worse' than a year ago leaped to 13.3%, up about 2.7 percentage points from April and the highest since July 2022.
While the central bank's monthly Survey of Consumer Expectations, released Monday, showed the inflation outlook mostly unchanged, the general perception of conditions deteriorated.
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