Working within the Federal Reserve System, the New York Fed implements monetary policy, supervises and regulates financial institutions and helps maintain the nation's payment systems.
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.
Expectations for Continued Government Support Remain Higher
The latest SCE Public Policy Survey, which tracks consumers’ outlook on a wide range of public policies, shows some moderation in expectations regarding year-ahead changes in welfare and unemployment benefits, with the average likelihood of further expansions falling to 32 percent and 31 percent in August from 39 percent and 53 percent in April, respectively. Despite the decline, expectations of continued program expansion or benefit-level increases remain considerably higher than pre-COVID-19 levels.
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, 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