Fed Survey Shows 12.6% Chance of Missing Minimum Debt Payments

AI Summary

The New York Fed's May Survey of Consumer Expectations, released on June 8, indicates that 12.6% of respondents fear missing minimum debt payments in the next three months, reflecting rising anxiety especially among lower-income households. Additionally, the chance of job loss expectations increased to 15.1%, with only a 43.7% belief in securing new employment, the lowest since December 2025. Furthermore, anticipated spending growth has dropped to 5%. Despite these challenges, inflation expectations are projected to be around 3%, above the Federal Reserve's target of 2%.