U.S. Inflation Expectations Hit 8-Year High in N.Y. Fed Survey

The video discusses the rising expectations of inflation, with consumers believing it will persist. It highlights the expected growth in earnings, particularly among low-income individuals, and the increased confidence in the labor market. Additionally, it covers the anticipated rise in consumer spending and taxes, reflecting broader economic sentiments.

What are the expectations regarding spending growth mentioned in the text?

What implications does the text suggest about tax expectations for wealthy individuals?