U.S. consumers are turning more pessimistic about the job market and their personal finances in August, even as their expectations for inflation remained largely unchanged, pointing to growing economic unease ahead of the Federal Reserve’s September policy meeting, Reuters reported.
The New York Federal Reserve’s latest Survey of Consumer Expectations showed households continued to expect inflation at 3.6% a year from now and 3% over the next five years. Expectations for inflation three years ahead edged down to 3.2% from 3.3% in July, according to the survey.
