In August, 2020, the Federal Reserve Bank of New York’s Center for Microeconomic Data released its Survey of Consumer Expectations. The results of this survey showed a continued decline in pessimism about households’ financial situation, according to a Sept. 14 New York Fed press release.
Home price growth expectations also returned to levels close to 2019, while delinquency expectations stayed low. Year-ahead spending, household income and labor market expectations, however, all remained weak compared to the pre-COVID-19 period. Additionally, medium inflation expectations rose at both the short and medium-term horizons, while uncertainty and disagreement about future inflation remained high.
Listed below are the main findings from the August New York Fed survey.