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.
As part of our core mission, we supervise and regulate financial institutions in the Second District. Our primary objective is to maintain a safe and competitive U.S. and global banking system.
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 April 2023 SCE Public Policy Survey shows consumers’ expectations regarding the likelihood of a rise in Medicare or social security benefits declined to 26 percent and 25 percent, respectively, from 30 percent and 35 percent in December 2022. The readings are well below those observed in 2021 but remain above those observed prior to the 2020 election.
Background
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.
Olivier Armantier, Argia M. Sbordone, Giorgio Topa, Wilbert van der Klaauw, and John C. Williams
Federal Reserve Bank of New York Staff Reports, February 2022
Olivier Armantier, Gizem Kosar, Rachel Pomerantz, Daphné Skandalis, Kyle Smith, Giorgio Topa, and Wilbert van der Klaauw
Federal Reserve Bank of New York Staff Reports, November 2020
Olivier Armantier, Giorgio Topa, Wilbert van der Klaauw, and Basit Zafar, WÄNDI BRUINE DE BRUIN
FEDERAL RESERVE BANK OF NEW YORK STAFF REPORTS, August 2011
WÄNDI BRUINE DE BRUIN, SIMON POTTER, ROBERT RICH, GIORGIO TOPA, AND WILBERT VAN DER KLAAUW
FEDERAL RESERVE BANK OF NEW YORK CURRENT ISSUES IN ECONOMICS AND FINANCE, August/September 2010
WÄNDI BRUINE DE BRUIN, WILBERT VAN DER KLAAUW, JULIE S. DOWNS, BARUCH FISCHHOFF, GIORGIO TOPA, AND OLIVIER ARMANTIER
FEDERAL RESERVE BANK OF NEW YORK STAFF REPORTS, April 2010