How Much Do Inflation Expectations Matter for Inflation Dynamics?
Inflation dynamics are often described by some form of the Phillips curve.
The Survey of Consumer Expectations Turns Two!
The Federal Reserve Bank of New York’s Survey of Consumer Expectations (SCE) turned two years old in June.
Global Asset Prices and the Taper Tantrum Revisited
Global asset market developments during the summer of 2013 have been attributed to changes in the outlook for U.S. monetary policy, starting with former Chairman Bernanke’s May 22 comments concerning future curtailing of the Federal Reserve’s asset purchase programs.
Survey Measures of Expectations for the Policy Rate
Market prices provide timely information on policy expectations.
Do Currency Forwards Say Anything about the Future Value of the U.S. Dollar?
J. Benson Durham Currency forwards do include useful information about the future value of the U.S. dollar, but any messages are hard to decipher without tools. Just as the yield curve reflects expected short rates as well as term premiums, foreign exchange forwards embed not only anticipated depreciation but also premiums for currency risk. This […]
Rising Household Debt: Increasing Demand or Increasing Supply?
Total consumer debt continued to increase in the first quarter of this year, marking the first time since the recession that aggregate debt had grown for three consecutive quarters, according to the May 2014 Quarterly Report on Household Debt and Credit.
Introducing the FRBNY Survey of Consumer Expectations: Household Finance Expectations
In this fourth and final post in our series describing the new FRBNY Survey of Consumer Expectations (SCE), we present the final component of the survey, dedicated to household finance.
Introducing the FRBNY Survey of Consumer Expectations: Labor Market Expectations
In the previous two blog postings in this series, we described the goals, structure, and content of the new FRBNY Survey of Consumer Expectations (SCE) and presented some findings regarding inflation expectations.
Introducing the FRBNY Survey of Consumer Expectations: Measuring Price Inflation Expectations
In this second of a series of four blog postings, we discuss the data on inflation expectations collected in our new FRBNY Survey of Consumer Expectations (SCE).