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Daily Financial Regulation Update -- Tuesday, July 14, 2020
By FedACTion Task Force
PH Client Alerts
Federal Reserve Bank of New York
FRBNY Publishes Blog Post on Delaying College during COVID-19
July 13, 2020
The Federal Reserve Bank of New York (FRBNY) published a Liberty Street Economics blog post (Blog Post) entitled “Delaying College during the Pandemic Can be Costly,” which provides an economic perspective on attending college during the COVID-19 pandemic. In the Blog Post, the authors, Jaison R. Abel and Richard Deitz, find that the economic rate of return to college actually increases, largely because the opportunity cost of attending school has declined; and, that there are sizeable hidden costs to delaying college that erode the value of a college degree, even in the current economic environment.
FRBNY’s Center for Microeconomic Data Releases June 2020 SCE
July 13, 2020
The Federal Reserve Bank of New York’s (FRBNY) Center for Microeconomic Data released the June 2020 Survey of Consumer Expectations (SCE), which continues to show gradual declines in pessimism about household financial conditions. According to the SCE, while consumers overall remain less optimistic than they were pre-COVID-19 about earnings growth, income growth and job finding expectations, several indicators showed improvements in June, including home price growth expectations; the average probability of missing a future minimum debt payment; median inflation expectations, which decreased at both the one-year and three-year horizons; and, uncertainty and disagreement about future inflation, which also declined.