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Afternoon Note

Snuffed Out

By Charles Payne, CEO & Principal Analyst
5/13/2024 1:37 PM


The session began with a little gusto, but it was snuffed out quickly when the New York Federal Reserve released its latest survey on Consumer Expectations.

Their prediction?

Pain!  More inflation pain.

NY Fed

The New York Fed Consumer Inflation Expectations survey came in above consensus today surging back to the highest level since last November.

Everything Going Higher

Consumers are bracing for higher inflation across the board.

Every Demographic Suffering

Demographically, high school educated, and the 40-59 old brackets see the fastest gains.

This report mirrors the University of Michigan Sentiment report that saw a massive swoon in buying conditions for homes, vehicles, and large household appliances.

This just thickens the plot even more ahead of the CPI report this week.


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