At the New York Fed, our mission is to make the U.S. economy stronger and the financial system more stable for all segments of society. We do this by executing monetary policy, providing financial services, supervising banks and conducting research and providing expertise on issues that impact the nation and communities we serve.
The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support
to international institutions.
The latest SCE Public Policy Survey, which tracks consumers’ outlook on a wide range of public policies, shows the average probability assigned to an increase in Social Security benefits over the next year increased sharply and reached 35.1 percent, the highest value since the start of the series. The increase was broad-based across gender, education, age, and income groups, but it was most pronounced for respondents with annual household incomes less than $60,000.
CMD staff are engaged in research to better understand how consumers form, update, and act on their expectations for a range of economic variables and outcomes. As part of this effort, they designed the Survey of Consumer Expectations (SCE), which captures respondents’ expectations for inflation, job prospects, and earnings growth, among other topics. The monthly "core" survey is supplemented by survey modules on special topics.