NY Fed 1 and 3 year inflation expectations dips to 2.8% from 3.0% previously

US consumer expectations

The US consumer expectations for 1 and 3 inflation dipped to 2.8% from 3.0% previously. This according to a survey by the NY Fed. The inflation expectations have been roughly unchanged since April 2018 until today.

The Fed last raise their policy rate in December to 2.25%-2.5%, but has since said they would be "patient" given low inflation and slower global growth.

Meanwhile the same survey showed that consumers expect wages would rise at a 2.5% clip versus 2.4% last month.