Inflation Expectations Largely Steady in Fed Survey

Americans’ inflation expectations remained mostly unchanged, while expectations about leaving their job voluntarily dropped to a record low, according to a Federal Reserve Bank of New York survey.

Consumers last month saw inflation at 3% over the next year, down from 3.1% in January, based on the median response in the New York Fed’s monthly Survey of Consumer Expectations released Monday. Expectations for inflation in three years and in five years were stable at 3%.