New York Fed’s August consumer expectations survey showed that median inflation expectations at one-year horizon dropped -0.2% to 2.4%, hitting a new series low. Inflation expectations at three-year horizon dropped -0.1% to 2.5%.
On labor wages, median one-year ahead expected earnings growth fell -0.1% to 2.3% in August, below the 12-month trailing average of 2.5%. The mean perceived probability of losing one’s job in the next 12 months increased for the second consecutive month from 13.8% in July to 14.2% in August.
