12 May 2023
After last month’s massive jump in 12-month inflation expectations, analysts are hoping the this morning’s preliminary May data from UMich’s consumer sentiment survey shows some pullback in that fear. While inflation expectations for the next year dipped very modestly, expectations for the next 5-10 years jumped to +3.2% – it hasn’t been higher since 2008 (tied for its highest since 2011)…