US inflation expectations rise to 3.4% as job prospects hit 12-year low

US consumers expect prices to rise 3.4% over the next year, up from 3.2% in November, while the probability of finding a new job after unemployment fell to 43.1%, the lowest since mid-2013, the New York Fed's monthly survey published on Jan. 9 shows. The data highlight a split among Federal Reserve officials between those focused on inflation and those concerned about rising unemployment. The divergence could hinder any rate adjustment at the Fed's policy meeting later this month, the report said.