Consumer Spending Growth Expectations Spike, while Inflation Expectations Edge Back Up

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The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the February 2022 Survey of Consumer Expectations, which shows an increase in short-and medium-term inflation expectations, reversing some of last month’s sharp declines. Median home price expectations, on the other hand, declined. Year-ahead earnings growth expectations remained unchanged, while expectations about unemployment, perceived job loss, and job finding expectations all improved. Spending growth expectations for the year ahead reached a new series high. Expectations about future credit access deteriorated noticeably. CONTINUED

Federal Reserve Bank of New York

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Americans Rate Canada, Britain, France, Japan Most Favorably

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Canada, Great Britain, France and Japan are rated favorably by more than eight in 10 Americans this year in Gallup’s annual World Affairs poll. The survey, which was conducted before Russia invaded Ukraine on Feb. 24, finds five countries at the other end of the spectrum with favorable ratings under 20%: North Korea, Afghanistan, Iran, Russia and Iraq. CONTINUED

Megan Brenan, Gallup

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Biden’s Ukraine leadership may not help Democrats at the ballot box

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President Joe Biden has maintained impressive unity among Western allies in leading the strong coordinated response to Russian President Vladimir Putin’s aggression in Ukraine.

At home, Biden has gratified Democratic campaign strategists lately with tactical adjustments. He smacked away the far left’s counterproductive “defund the police” slogan in his State of the Union address. He has more aggressively promoted accomplishments like the bipartisan infrastructure bill. Last week, he slapped a “Putin’s price hike” label on the rising cost of gasoline.

And what will it get him politically in midterm elections for Congress this fall? Probably not much. CONTINUED

John Harwood, CNN

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6 in 10 Americans oppose laws prohibiting LGBTQ lessons in elementary school

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More than 6 in 10 Americans oppose legislation that would prohibit classroom lessons about sexual orientation or gender identity in elementary school, a new ABC News/Ipsos poll finds. The ABC News/Ipsos poll, which was conducted by Ipsos in partnership with ABC News using Ipsos’ KnowledgePanel, found that 62% of Americans oppose such legislation, while 37% support it. …

The ABC News/Ipsos poll found that Republicans are more likely to support legislation that would prohibit classroom lessons about sexual orientation or gender identity in elementary school, with 61% of GOP identifiers supporting it compared to only 20% of Democrats and 35% of independents. CONTINUED

Meredith Deliso, ABC News

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Americans remain critical of Biden’s handling of inflation, support ban on Russian oil

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Americans overwhelmingly support the White House’s proposed ban on Russian oil, though they remain very critical of President Joe Biden’s handling of the economy, in general, and inflation, in particular, according to a new ABC News/Ipsos poll.

Over the past several months, Americans’ wallets have been hit by skyrocketing inflation, and now, Biden is feeling that crunch in his approval numbers. Seventy percent of Americans disapprove of his handling of inflation. CONTINUED

Brittany Shepherd, ABC News

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Americans continue to support ban on Russian oil

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In interviews conducted March 11-12, new survey data from ABC News and Ipsos finds that a majority of Americans (77%) support banning Russian oil imports even if it means higher gas prices in the U.S. This is in line with other survey research showing more than three-fourths supporting a ban, even as gas prices have climbed more than 50 cents per gallon over the last week. Public sentiment around President Joe Biden’s handling of the situation with Russia and Ukraine has improved over the last two months. However, a large majority of Americans continue to disapprove of the President’s handling of inflation and gas prices. CONTINUED

Ipsos

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