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Consumers Increasingly Expect Additional Government Support amid COVID-19 Pandemic

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Abstract

The New York Fed’s Center for Microeconomic Data released results today from its April 2020 SCE Public Policy Survey, which provides information on consumers' expectations regarding future changes to a wide range of fiscal and social insurance policies and the potential impact of these changes on their households. These data have been collected every four months since October 2015 as part of our Survey of Consumer Expectations (SCE). Given the ongoing COVID-19 pandemic, households face significant uncertainty about their personal situations and the general economic environment when forming plans and making decisions. Tracking individuals’ subjective beliefs about future government policy changes is important for understanding and predicting their behavior in terms of spending and labor supply, which will be crucial in forecasting the economic recovery in the months ahead.

Suggested Citation

  • Gizem Koşar & Kyle Smith & Wilbert Van der Klaauw, 2020. "Consumers Increasingly Expect Additional Government Support amid COVID-19 Pandemic," Liberty Street Economics 20200526b, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:88049
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    More about this item

    Keywords

    expectations; pandemic; fiscal policy; COVID-19;
    All these keywords.

    JEL classification:

    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
    • J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers

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