NEW YORK (Reuters) – U.S. consumers in June lifted their inflation expectations for the first time in three months, New York Fed data showed on Monday, reducing pressure on central bankers to cut rates significantly to support economic momentum.
Federal Reserve policymakers are debating whether to cut rates given uncertainty over a U.S. trade war and tepid inflation, with markets expecting stimulus from the central bank by its July 30-31 meeting.
US - Economy - Fed - % - Inflation
The U.S. economy has been falling short of the Fed’s 2%-a-year inflation goal. Policymakers are worried about the potential for slower spending and tamer growth.
The Federal Reserve Bank of New York’s survey of consumer expectations, which the Fed considers along with other data on U.S. price pressures, showed consumers’ one-year inflation outlook rising 0.2 percentage points to 2.7%. Three-year inflation expectations also ticked up to 2.7%....
Wake Up To Breaking News!