We propose a new approach to assessing the anchoring of inflation expectations using "strategic surveys". Namely, we … measure households' revisions in long-run inflation expectations after they are presented with different economic scenarios. A … key advantage of this approach is that it provides a causal interpretation in terms of how inflation events affect long …

We study the behavior of U.S. consumers' inflation expectations during the high inflation period of 2021-22 using data … from the Survey of Consumer Expectations. Short- and, to a lesser extent, mediumterm inflation expectations rose as … inflation surged in 2021. Disagreement and uncertainty about future inflation increased significantly. Then, in 2022, even as …

frameworks in the presence of a low natural rate of interest and a lower bound on interest rates. Under a standard inflation …-targeting approach, inflation expectations will be anchored at a level below the inflation target, which in turn exacerbates the … eliminate this problem of a downward bias in inflation expectations by following an average-inflation targeting framework that …