NY Fed Survey: likelihood of US stocks rising falls to lowest level since June 2022
Gold Finance reports that a New York Fed survey shows consumers remain confident that long-term inflationary pressures will remain under control, at odds with the results of other closely watched surveys, such as that of the University of Michigan. Expectations for the level of inflation five years from now were at their highest level since June 1991 in April, according to the University of Michigan survey. The New York Fed survey data also found that residents are having a harder time obtaining credit, and there was a small increase in March in the number of people who viewed their finances negatively. The likelihood of a rise in the stock market fell to its lowest level since June 2022, residents said.
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