On Inflation Expectations


The NY Fed on inflation expectations ....very interesting.

The money shot :  "We find respondents have inaccurate perceptions of past changes in food and beverage prices. ..... We find that nearly 40% of our respondents believe past-year food and beverage inflation was 7% or more, when, in fact, the published measure has not risen as high as 7% since 1981."

WOW...just WOW !

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