NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the June 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations ticked down at the short-term horizon and remained unchanged at the medium- and longer-term horizons. Unemployment and job loss expectations improved. Spending growth expectations slightly declined, while household income growth expectations increased. Households were more optimistic about their year-ahead financial situations and credit access. The survey was fielded from June 2 through June...

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the May 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations declined at the short-, medium-, and longer-term horizons. Consumers’ recent pessimism about the labor market eased somewhat, while consumer debt delinquency expectations and expectations about one’s household financial situation improved slightly. The main findings from the May 2025 Survey are: Inflation Median inflation expectations decreased at all three horizons in May. One-year-ahead inflation expectations declined by...

“Today's decision is a resounding victory for New Yorkers, American consumers and the rule of law. These reckless and unauthorized tariffs have burdened businesses with skyrocketing costs that have been passed along to consumers and wreaked havoc on our 401Ks — all without the legal authority to do so. “This ruling affirms what I have said from the beginning: the Executive Branch does not have the power to unilaterally impose these sweeping economic measures that harm the very people we...

NEW YORK—The Federal Reserve Bank of New York and the Bank for International Settlements (BIS) today published a joint research study that explored if and how central banks could continue to implement monetary policy operations in hypothetical tokenized wholesale financial markets.      Project Pine, from the New York Innovation Center at the New York Fed and the Swiss Centre of the BIS Innovation Hub found that central banks could customize and deploy policy implementation tools using programmable smart contracts in a potential future state where commercial banks...

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the February 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations increased slightly at the short-term horizon but remained unchanged at the medium- and longer-term horizons. Households expressed more pessimism about their year-ahead financial situations in February, while unemployment, delinquency, and credit access expectations deteriorated notably. Meanwhile, spending growth expectations rose significantly. Average quit probabilities among those employed fell to the lowest level since...

Governor Hochul announced two major initiatives to expand affordable digital access across New York State. Governor Kathy Hochul today announced two major initiatives to expand digital access across New York State. The first initiative — Affordable Broadband Act (ABA) — has officially taken effect, making New York State the first state in the nation to require internet service providers to offer qualifying low-income households broadband service at $15 per month for 25 Mbps service or $20 for 200 Mbps service....

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the December 2024 Survey of Consumer Expectations, which shows that inflation expectations were unchanged at the short-term horizon, increased at the medium-term horizon, and decreased at the longer-term horizon. The average perceived likelihoods of a job loss, voluntary job separation, and finding a job in the event of a job loss all declined. While year-ahead household income growth expectations declined slightly and are now comparable to...