A New York Federal Reserve survey found that U.S. consumers are increasingly pessimistic about inflation and their access to credit.
58.2%
of respondents said they are having a harder time accessing credit than
a year prior, the highest number since records started in June 2013.
- The
percentage of respondents who believe that credit will be more
difficult to access a year from now rose to 53%, from 48.8% in
February's survey.
- 10.9% of respondents said they may miss a minimum debt payment in the year ahead, up from 10.6% in February.
- Only 35% of respondents expect the stock market to rise a year from now.
- Respondents expect a 4.7% inflation rate over the next year.
- Gas and food prices are expected to rise by 4.6% and 5.9%, respectively, over the next year.
- Rising interest rates and recent turmoil in the U.S. banking sector have sparked concerns about a potential credit crisis.
