Survey of Consumer Expectations

The Survey of Consumer Expectations is a monthly survey of U.S. households by the New York Federal Reserve Bank. The people are asked about how much the expect to spend, how high they expect inflation to be, their employment situation, and whether they are searching for a job.

## Methodology

About 4500 consumers have been surveyed each year since 2013. Survey results are calibrated to be demographically representative of U.S. households.[1] Monthly survey results and detailed microdata are published at the New York Fed site.[2][3][4]

## Results

The survey's results are used to make inferences about public expectations of U.S. dollar inflation.[5][6]

The survey has illuminated the degree to which employed workers are offered much higher-wage jobs than the unemployed, even holding constant the observable attributes of the workers.[7]

## References

1. ↑ Olivier Armantier, Giorgio Topa, Wilbert van der Klaauw, and Basit Zafar. An Overview of the Survey of Consumer Expectations. FRBNY Economic Policy Review. December 2017
2. ↑ Press briefing by NY Federal Reserve Bank. 2016
3. ↑ Fed Survey: Consumers’ Spending Expectations Fall. American Banking Association news item. 8 July 2019.
4. ↑ Survey of Consumer Expectations, NY Fed monthly report. Center for Microeconomic Data, NY Federal Reserve Bank. Includes download links.
5. ↑ Reuters news for inflation expections of the public. Reuters.
6. ↑ Derby, Michael S. Inflation Expectations Ease in August, New York Fed Survey Says. Wall Street Journal, 9 Sept 2019
7. ↑ R. Jason Faberman, Thomas Haasl, Andreas I. Mueller, Ayşegül Şahin, and Giorgio Topa. Do the Employed Get Better Job Offers? Blog post at NY Fed. April 4, 2018.

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