US households report worse finances in NY Fed survey (opens in new tab)

The Federal Reserve Bank of New York’s May Survey of Consumer Expectations found that roughly 48% of Americans said their financial situation was worse than a year earlier, the highest share since January 2023. The survey also showed weaker expectations for the year ahead, with the share of households expecting their finances to improve compared with those expecting deterioration falling to its lowest level since October 2022. Labor-market sentiment also worsened in the May survey. About 15% ...