New York Fed survey: U.S. inflation is expected to average 5.7% for the whole of 2023 and contract to 2.8% three years out thanks to falling gas prices. AAA: the national average for unleaded gas has dropped all summer, to an average of $3.71 per gallon Monday ARK Invest’s Cathy Wood: Deflation, not inflation will rule the U.S. markets going forward. After hitting multi-decade highs in recent months, erstwhile stubbornly high inflation in the U.S. has begun to ease and is showing signs of returning to somewhat normal levels before long. In August, the headline inflation fell to 8.1% , higher than expected but lower than the four-decade 8.5% peak it hit in June, with volatile food and energy prices, or core CPI, the brunt of that–at 6% higher than last year. The Biden Administration is now increasingly confident that inflation will fall even further thanks to falling oil […]