NEW YORK — Americans expect inflation to rise and the job market to soften, according to the latest Survey of Consumer Expectations from the Federal Reserve Bank of New York.

More Americans now feel that unemployment will increase, job losses will accelerate and household income growth will deteriorate.

“Households were also more pessimistic about their year-ahead financial situations and credit access,” the Federal Reserve said in a statement accompanying the March results on Monday.

Additionally, Americans’ expectations for stock prices declined to their lowest level since June 2022, even before President Donald Trump announced reciprocal tariffs that sent global stock markets into chaos.

In one year, survey respondents said they expect median inflation to increase by 0.5% to 3.6%.

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