According to a New York Federal Reserve survey, U.S. consumers’ long-term inflation expectations remained stable in April, despite near-term price pressures. Near-term inflation expectations for the next 12 months rose slightly, but expectations for the next three to five years showed no change from March, suggesting consumers view price shocks as temporary. The survey also found 44% of consumers expect unemployment to rise over the next 12 months, the highest level in one year.
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