Consumers forecast inflation at 3% a year from now, the lowest their short-term expectations have been in three years.
But they expect other key measures to be less positive. Here's what that means for the Fed.
Even though sentiment has tanked, a New York Fed survey finds that consumers expect inflation to ease in the future.
The consumer price index rose 5.4% year over year, as consumers' inflation expectations hit a series high of 5.3%, the New York Fed said.