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Consumers and COVID-19

  • Background: The Cleveland Fed has been maintaining a survey of consumers for their views on how they are responding to COVID-19, the illness caused by the novel coronavirus of late 2019, and how COVID-19 is likely to impact the economy.
  • Description: We update the results from these surveys on a weekly basis.

How are consumers responding to COVID-19? How likely is COVID-19 to impact the economy? Hear from Edward Knotek, senior vice president in the Research Department, as he provides a weekly update on the Consumers and COVID-19 economic indicator.

“Consumers continue to see the coronavirus as having an adverse impact on the economy, weighing on GDP and boosting inflation. Over time, there has been a dramatic decline in the number of consumers thinking that the outbreak would be over quickly, with a majority now expecting that it could last for two years or longer.”

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