Financial Worries Rise as Access to Credit Becomes More Difficult: New York Fed Survey

American consumers are increasingly concerned about their ability to access credit, with nearly 60% of respondents indicating that it is harder now than a year ago, according to a New York Federal Reserve survey. This comes as interest rates have risen and banks have tightened lending standards. The survey also revealed mixed expectations for inflation, with respondents anticipating higher prices for gas, medical care, food, college education, and rent. Additionally, worries about job security have increased, despite a relatively low unemployment rate.