Persistently Pessimistic: Consumer and Small Business Sentiment After the Covid Recession

Scott Brave and Jacob S. Herbstman

Chicago Fed Letter, 2023, vol. no 490, 9

Abstract: Both consumer and small business sentiment indexes remain very pessimistic by historical standards. In this article, we take a closer look at possible explanations. Our analysis suggests that after the Covid-19 recession in the United States, the responses of consumers and small business owners to sentiment-related surveys have become less sensitive to labor market conditions.

Keywords: Microeconomics (search for similar items in EconPapers)
JEL-codes: D12 M21 (search for similar items in EconPapers)
Date: 2023
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https://doi.org/10.21033/cfl-2023-490

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