NY Fed survey reveals rising inflation expectations and credit access concerns among Americans.
The median expectation is that the inflation rate will be up 4.7% one year from now, according to the New York Federal Reserve's Survey of Consumer Expectations, up from 4.2% in February. Consumers anticipate that inflation will remain sticky in coming years, estimating that inflation will hover around 2.8% three years from now. The survey also found that the share of households who said credit is harder to get compared to the same time last year rose to the highest level since 2014, raising the risk of a recession this year.