The Federal Reserve Bank of New York's Center for Microeconomic Data released the May 2021 Survey of Consumer Expectations, which shows that households' expectations about year-ahead inflation, home price and rent price changes, earnings, income, and spending growth all increased in May. Medium-term inflation expectation grew more modestly, while inflation uncertainty increased sharply at both horizons. Labor market expectations improved, with unemployment and the probability of losing one's job both reaching series lows, while earning expectations and the probability of finding a job increased sharply. The main ... (full story)