Chart of the Day – Inflation Expectations Do Not Appear Well Anchored

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Source: NY Fed

44% of respondents in the NY Fed Survey on Inflation expectations for the month of April believed 1 year ahead inflation would be over 4%. 2/3 of respondents believe it will be higher than 2%. These are 5 month highs for these readings and offer some caution to the Fed’s view that inflation expectations remain well-anchored