U.S. Consumers Expect Economic Boom and Higher Inflation – NY Fed

Consumers in the United States expect an economic boom in 2022, the results of the Federal Reserve Bank of New York’s monthly survey showed.

The May survey results also showed higher expectations for inflation, home prices, earnings, and employment.

Median expectations for inflation next year continued to rise for the seventh consecutive month, reaching 4%, compared with 3.4% in April, hitting a new record high.

Meanwhile, the expectations for inflation over the next three years rose to 3.6% from 3.1%.

The expectations for a higher unemployment rate drooped to a record low of 31.9%.