Households expecting their financial situations to be better a year from now jumped to 37.6%, the highest since before the Covid pandemic, a New York Fed survey shows.
U.S. President-elect Donald Trump holds an award during the FOX Nation's Patriot Awards at the Tilles Center on December 05, 2024 in Greenvale, New York.Optimism about household finances hit a multiyear high following Donald Trump's presidential election victory in November, according to a New York Federal Reserve survey released Monday.
In conjunction with the rise of optimism, the level of those who expect their financial situation to get worse moved down to 20.7%, off nearly 2 percentage points from a month ago and the lowest since May 2021. Though the macro economy has showed solid growth through 2024, consumers remain stymied by price increases that spurred a cumulative increase in the consumer price index inflation gauge of more than 20% under President Joe Biden.