What Survey Measures of Inflation Expectations Tell Us

Erin Henry, Conner Mulloy and Pierre Daniel Sarte

Richmond Fed Economic Brief, 2023, vol. 23, issue 03

Abstract: Throughout this period of high inflation, people have wondered when inflation will return to the FOMC's longer-run target of 2 percent. Many models and surveys on inflation expectations exist to help answer this question. In this Economic Brief, we explore the accuracy of these measures of inflation expectations and what information can be obtained from them. While we find these popular sources of inflation are historically inaccurate, they can still gather valuable information, such as people's confidence in the ability of the Fed to get inflation back to target.

Keywords: Inflation; Economic surveys (search for similar items in EconPapers)
Date: 2023
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