NY Fed survey finds less worry about inflation and more about jobs

This is dovish on the margin:

• one-year expected inflation to 3.2% vs 3.4% prior
• Three year inflation unchanged at 3.0%
• Five year inflation unchanged at 5.0%
• Households’ labor market outlook was mostly negative
• Perception of current financial situation worsened
• Expectation of future financial situation declined

The market remains in a poor mood with the S&P 500 down 1.0%

This article was written by Adam Button at investinglive.com.