NY Fed: US one-year inflation expectations hit 3.9%, highest in over three years

The split matters more than the headline number: near-term expectations are rising while longer-horizon views stay anchored, and households report better labor prospects alongside worse credit access and personal finances. That combination points to a squeeze on real purchasing power rather than a broad loss of confidence in the inflation path. For crypto and RWA markets, the relevant question is whether elevated short-run inflation expectations keep pressure on rate-sensitive assets, and whether the divergence between inflation and credit conditions starts showing up in demand for yield-bearing or inflation-hedging instruments.