Longer-term inflation expectations ticked higher in April, according to a survey released by the Federal Reserve Bank of New York on Monday, challenging the central bank’s efforts to bring price pressures down.
Respondents to a poll by the New York Fed see inflation rising by 3.9% three years from now, up from a 3.7% rise they predicted in the March survey. Meanwhile, respondents believe inflation one year from now will rise by 6.3%, down from March’s 6.6% level.
