by John Carney
Breitbart.com
Inflation expectations among American consumers surged in January, according to the latest University of Michigan survey, casting doubt on the Federal Reserve’s decision to cut interest rates three times late last year. The findings suggest that while consumers feel marginally better about their personal finances, concerns about rising prices in the months ahead have intensified.
“Assessments of personal finances improved about 5 percent, while the economic outlook fell back 7 percent for the short run and 5 percent for the long run,” said Joanne Hsu, director of the Surveys of Consumers. “January’s divergence in views of the present and the future reflects easing concerns over the current cost of living this month, but surging worries over the future path of inflation.”