Dec 8 (Reuters) – U.S. households grew more downbeat on their current and future financial situations in November, even as their expectations for the future \u200btrajectory of inflation held steady, a New York Federal Reserve report released on \u200cMonday showed.<\/p>\n
The regional Fed bank said in its Survey of Consumer Expectations for November that respondents’ views \u200con their current financial situations “deteriorated notably” while their outlook a year from now “deteriorated slightly.”<\/p>\n
Survey respondents’ views on the job market, however, got better in November. The report said that expectations of higher unemployment a year from now ebbed, while the expectation of losing a \u2060job at some point over the \u200cnext year cooled to its lowest reading since December 2024. Households also downgraded the probability of leaving a job voluntarily.<\/p>\n
The report was \u200dreleased a day before the start of what is expected to be a contentious U.S. central bank policy meeting. The Fed is forecast to lower its policy rate by a quarter of \u200ba percentage point to the 3.50%-3.75% range on Wednesday, in an effort to \u200cbuttress a job market that’s shown signs of weakness.<\/p>\n
The expected rate cut is likely to generate a considerable amount of formal opposition among policymakers because inflation pressures still remain well above the Fed’s 2% target. Many Fed officials continue to believe getting price pressures down should be the main focus of monetary policy right now.<\/p>\n
The New York \u2060Fed’s report showed mostly benign readings on the \u200binflation front in November. The expectations for inflation a \u200byear from now held steady at 3.2% compared to the prior month, and were unchanged at 3% for the three- and five-year-ahead projections.<\/p>\n
Home \u200dprice expectations in November \u2060were also steady at a 3% rise, amid modest changes in the outlook for a range of commodity prices. But the November year-ahead expectation of medical \u2060costs showed a 10.1% increase, the highest reading since January 2014.<\/p>\n
The report also said future earnings and \u200cincome growth remained positive in November relative to the prior month.<\/p>\n
(Reporting by \u200cMichael S. Derby; Editing by Paul Simao)<\/p>\n","protected":false},"excerpt":{"rendered":"Dec 8 (Reuters) – U.S. households grew more downbeat on their current and future financial situations in November,…\n","protected":false},"author":3,"featured_media":433748,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5122],"tags":[5229,55240,1257,201146,19875,405,403,37509,5226,5225,5228,5227,201147,177092,67,586,132,5230,68,2969],"class_list":{"0":"post-433747","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-america","9":"tag-consumer-expectations","10":"tag-fed","11":"tag-financial-situations","12":"tag-inflation-pressures","13":"tag-new-york","14":"tag-new-york-city","15":"tag-new-york-federal-reserve","16":"tag-newyork","17":"tag-newyorkcity","18":"tag-ny","19":"tag-nyc","20":"tag-price-expectations","21":"tag-survey-respondents","22":"tag-united-states","23":"tag-united-states-of-america","24":"tag-unitedstates","25":"tag-unitedstatesofamerica","26":"tag-us","27":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115685201234439922","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/433747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=433747"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/433747\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/433748"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=433747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=433747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=433747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}