The Federal Reserve Bank of New York's June consumer survey showed one-year-ahead inflation expectations rose to 3.7%, the highest level since September 2023. Three-year-ahead expectations also climbed to 3.3%, the highest since June 2022, while five-year-ahead expectations held steady at 3%. Meanwhile, concerns over gasoline prices eased and household outlooks became more optimistic. President Williams indicated that worries about price pressures have somewhat receded.