Fed Gets Second Worrisome Inflation Expectations Update In Two Sessions

There was more evidence Monday that Americans' medium-term inflation expectations are drifting higher (again) amid tariff concerns and generalized macro uncertainty on the eve of Donald Trump's second inauguration. The latest vintage of the New York Fed's consumer poll, released on Monday ahead of CPI data due mid-week, showed household inflation expectations at the three-year horizon rose 0.4ppt in December, to 3%. The unrounded figure was the highest since November of 2023. As the figure bel