Latest issue of Fed’s triennial Survey of Consumer Finances, highlighting impact of coronavirus crisis

The latest issue of the Survey of Consumer Finances (SCF) – for 2022 – was released Wednesday by the Federal Reserve, covering changes in family finances from 2019-22, changes in racial inequality, and families’ financial experiences of the coronavirus crisis.

According to the Fed, the SCF is a triennial cross-sectional survey of U.S. families. It includes information on families’ balance sheets, pensions, income, and demographic characteristics. The Fed said information is also included from related surveys of pension providers and the earlier such surveys conducted by the Federal Reserve Board.

“No other study for the country collects comparable information,” the Fed noted. “Data from the SCF are widely used, from analysis at the Federal Reserve and other branches of government to scholarly work at the major economic research centers.”

Respondents are selected randomly, the Fed said, with a “strong attempt” made to select families from all economic strata.

Survey of Consumer Finances (SCF)