US July Inflation Expectations Drop to 3.6%, Optimism in Job Market Rises

According to a survey by the New York Federal Reserve, consumers in the U.S. have lowered their inflation expectations for the next year from 3.7% to 3.6% in July. Expectations for inflation over the next three and five years remain unchanged at 3.3% and 3%, respectively. The perceived probability of unemployed workers finding new jobs has risen to 46.2%, the highest this year, particularly among those with a high school education or less and households earning less than $50,000 annually. Consumer optimism about the stock market has increased, with the probability of stock prices rising in a year reaching its highest level since April 2021.

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