Three-Year Inflation Views at Highest Since 2022 in Fed Survey

Americans’ expectations for inflation in the medium-term climbed to an almost three-year high in April while their views on the job market worsened, according to a monthly survey from the Federal Reserve Bank of New York.

Median expectations for inflation three years from now rose to 3.2% in April, the highest reading since July 2022. Estimates for year-ahead price growth, however, held steady, and longer-term inflation views edged down to 2.7%.

Fed officials are closely monitoring Americans’ estimates of future price pressures to help assess whether President Donald Trump’s policy changes, particularly around trade, will spark a persistent bout ...