- The previous was 69.7
- Current conditions 83.3 vs. 73.3 previously
- Expectations: 75.9 vs. previous 66.4
- One-year inflation rate was 2.9% versus 3.1% previously
- Five-year inflation is 2.8% versus 2.9% previously
I don’t like this poll but it is still a market driver. The US dollar is ignoring the headlines (which are still well below pre-pandemic norms) but focusing on the inflation numbers, which are now below 2020 levels. The Fed is monitoring the inflation expectations survey and it is consistent with other surveys.
It’s a political poll: