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 New York Fed engages with individuals, households and businesses in the Second District and maintains an active dialogue in the region. The Bank gathers and shares regional economic intelligence to inform our community and policy makers, and promotes
sound financial and economic decisions through community development and education programs.
The latest SCE Public Policy Survey, fielded in April, shows large movements in consumers’ expectations regarding future changes in several government assistance and social insurance programs, as well as in taxes and fees. Among the results rounded up in a recent Liberty Street Economics post: The average likelihood of an increase in federal welfare benefits rose the most—around 20 percentage points—from December 2019 to April 2020.
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.