NY Fed Survey of Consumers shows inflation relief, jobs-market unease

The New York Fed revealed the August Survey of Consumer Expectations in which households' inflation expectations dipped in the medium-term, while expectations about the labor market remained mixed, as unemployment and job finding deteriorated, while job losses and quit expectations improved.

Key highlights:

1 Yr Inflation Expectations Actual 3.58% (Forecast 3.6%, Previous 3.63%)

5-year inflation expectations unchanged in august at 3%.

3-year-ahead expected inflation at 3.2% in august versus July's 3.3%.

Expectations in August of higher unemployment rate were highest since April 2020.

Labor market expectations were mixed in August.

Consumers in August projected higher future gasoline prices.

Views about current and future personal financial situations deteriorated in August.