US household inflation expectations rose in October, according to the University of Michigan’s final survey. One-year-ahead expectations reached 4.7%, up from 4.6% in September, while long-term expectations increased from 3.4% to 3.5%. Consumer sentiment remained nearly unchanged at 48.0 points, but the current-conditions index fell to 46.7 points. The data come ahead of the Federal Reserve’s October 27–28 meeting, following its September decision to raise the federal funds target by 0.25 percentage point to a range of 3.75%–4.00%, and the survey alone does not determine the policy decision or the impact on Bitcoin.
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