How Does Unexpected Inflation Affect Households?

How do households react to economic surprises? While inflation affects all consumers, unexpected inflation spikes can have a more significant impact on some households than others. “For some households that find it hard to move resources around or borrow or adjust their savings, unexpected inflation will have a large effect on them,” says St. Louis Fed economist Yu-Ting Chiang. In this episode, Chiang previews his upcoming research on the effects of unexpected inflation shocks and their impact on households.

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In the Timely Topics podcast series, economists and other Federal Reserve Bank of St. Louis experts talk about their research and current topics in the news. (Views expressed are not necessarily those of the St. Louis Fed or Federal Reserve System.)