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U.S. inflation expectations fall sharply – NY Fed Survey

Washington, Mar 13 (Prensa Latina) Short-term inflation expectations in the United States declined sharply 4.2% in February compared to 5% in January, according to a survey released Monday by the US Federal Reserve (Fed).

At the one-year-ahead horizon, the median inflation expectations dropped by 0.8 percentage points to 4.2%, showed the Fed’s February 2023 Survey of Consumer Expectations.

While the three-year-ahead expectations remained at 2.7%, the five-year-ahead measure increased by 0.1 percentage points to 2.6%, according to the survey.

The survey, published on Monday, was conducted prior to the Silicon Valley Bank´s collapse, forcing government authorities to provide new assistance to the banking system, a situation that switched the U.S. monetary policy outlook.

In view of this situation, some analysts, such as the investment bank Goldman Sachs, expressed their opposition to a new interest rate hike at the Fed’s next monetary policy meeting – scheduled for March 21 and 22.

“Expectations about year-ahead price increases for gas, food, cost of rent, college education, and medical care all declined,” it said. “Labor market expectations improved, with unemployment expectations and perceived job loss risk decreasing and job finding expectations increasing.”


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