NY Fed survey reveals record low credit access outlook and high inflation expectations.
TL;DR Summary
The New York Federal Reserve's Survey of Consumer Expectations for March showed that consumers are becoming more pessimistic about their access to credit and inflation expectations. Respondents expect prices to rise by half a percentage point in the year ahead, equating to a 4.7% annual gain, the first time the near-term outlook increased since October. Consumers also reported that credit is much or somewhat harder to get than a year ago, with 58.2% reporting this, the highest ever in a data series that goes back to June 2013.
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