New York Fed survey: Chance of a rise in U.S. stocks drops to lowest level since June 2022

Consumers remain confident that long-term inflationary pressures will remain under control, according to a New York Fed survey, at odds with other closely watched findings such as those from the University of Michigan, which showed that expectations for inflation in five years' time in April were at their highest level since June 1991. The New York Fed survey data also found that residents had a harder time accessing credit, and there was a small increase in those who viewed their finances negatively in March. Residents said the likelihood of a stock market rally fell to its lowest level since June 2022.