New York Fed survey of households
The New York Fed survey of households is showing:
- median year I had spending growth expectations jump to 4.2%. Highest level in more than 5 years
- earnings growth expectations remain flat for the 6th consecutive month
- median inflation expectations for one year ahead and 3 year horizons remained unchanged at 3% in January
- median year ahead home price change expectations increase 24% in January. This is the highest since May 2014
The consumer is positive about spending, inflation rising and home prices but ironically don't see earnings increasing.
