Data: Federal Reserve Bank of New York; Chart: Naema Ahmed/Axios

The New York Fed's April survey of consumer expectations released Monday shows a "considerable deterioration in households’ expectations about most economic outcomes," but even higher expectations for stock prices to rise than the last record high in March.

What's happening: Nearly a third of Americans expect their own household financial situation will be worse in a year, the highest level on record.

  • The survey also shows increased fear of job loss and historically low expectations for income and spending. Plus, there are expectations for more difficulty getting credit and higher debt delinquencies in the next year.
  • For the first time since the survey was launched in 2013, the median respondent did not expect home prices to increase over the next year.

Yes, but: Despite the rally since U.S. stock prices hit their cycle low on March 23, confidence that stocks will be higher a year from now was the highest it has ever been.

  • The expectation for stock prices to increase hit record highs for all ages, income levels and regions.

Go deeper: The coronavirus-driven gold rush

Go deeper

Americans increase deposits as banks cut back on lending

Illustration: Aïda Amer/Axios

U.S. banks are seeing deposits skyrocket and are pulling back on loans in the face of the coronavirus pandemic, newly released data from the Federal Reserve show.

Why it matters: It's the latest sign of trouble for the banking sector and the economy — a signal that consumers and businesses aren't starting new projects or focusing on growth, and are instead socking away cash.

Jun 23, 2020 - Health

Axios-Ipsos poll: Catching up when the virus comes

Data: Ipsos/Axios survey, case data from The COVID Tracking Project; Chart: Andrew Witherspoon/Axios

People in mostly red states where coronavirus cases have been rising the fastest are developing a heightened sense of risk and taking steps to dial back their exposure, according to the latest installment of the Axios-Ipsos Coronavirus Index.

Why it matters: A much lower-than-expected turnout last weekend for President Trump's rally in Tulsa is consistent with the broader trend we're seeing in Week 14 of our national poll.

Larry Kudlow fights statistics on black-white wealth gap

Photo: "Axios on HBO"

White House economic adviser Larry Kudlow says he believes the wealth gap between black and white people has narrowed, and questioned statistics that show the gap now is as wide as it was in the 1960s.

Why it matters: In an interview with "Axios on HBO," President Trump's top economic adviser told Axios' Jonathan Swan that different measures of wealth suggest there has been progress — meaning the advice Trump is getting is out of sync with the conclusion of recent studies.