New York Fed Spending Projections Rise At Top End, Sink At Bottom End: Wealth Effect?

Every month the New York Fed releases a Survey of Consumer Expectations.

One of the components pertains to spending expectations, how much more or less people think they will spend in the future.

Since March, spending expectations at the high end have risen. The Median projection is roughly the same, but the bottom 25% expect to spend less.

By any chance are those on the high end enthused about their stock market performance?

Mike “Mish” Shedlock