The Cleveland Fed has been maintaining a survey of consumers for their views on how they are responding to COVID-19.
“Consumers continue to see a long road ahead, with nearly two-thirds expecting that the coronavirus outbreak will last either one or two years …
However, we are starting to see some changes in behavior, as fewer consumers report storing more food supplies than had been the case earlier …
And the impact of the coronavirus on GDP over the next twelve months looks to be decreasing in size, from -20% in late March to -10% in late April and -5% in late May.”
