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Keywords:household spending OR Household spending OR Household Spending 

Discussion Paper
Amid the COVID-19 Outbreak, Consumers Temper Spending Outlook

The New York Fed’s Center for Microeconomic Data released results today from its April 2020 SCE Household Spending Survey, which provides information on consumers' experiences and expectations regarding household spending. These data have been collected every four months since December 2014 as part of our Survey of Consumer Expectations (SCE). Given the ongoing COVID-19 outbreak, the April survey, which was fielded between April 2 and 30, unsurprisingly shows a number of sharp changes in consumers’ spending behavior and outlook, which we review in this post.
Liberty Street Economics , Paper 20200507b

How Will COVID-19 Affect the Spending of Financially Distressed Households?

Consumer spending will drop substantially due to COVID-19, and the declines will hit hardest in households already in financial distress.
On the Economy

Journal Article
Spending Patterns and Cost of Living for Younger versus Older Households

Older households have faced slightly higher inflation rates than younger households over the past 40 years, though this gap is narrowing.
Economic Review , Issue Q IV , Pages 5-21

The national and regional economy

Remarks at the New Jersey Performing Arts Center, Newark, New Jersey.
Speech , Paper 161

Working Paper
The COVID-19 Shock and Consumer Credit: Evidence from Credit Card Data

We use credit card data from the Federal Reserve Board's FR Y-14M reports to study the impact of the COVID-19 shock on the use and availability of consumer credit across borrower types from March through August 2020. We document an initial sharp decrease in credit card transactions and outstanding balances in March and April. While spending starts to recover by May, especially for risky borrowers, balances remain depressed overall. We find a strong negative impact of local pandemic severity on credit use, which becomes smaller over time, consistent with pandemic fatigue. Restrictive public ...
Finance and Economics Discussion Series , Paper 2021-008


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