Brief
by
20 Dec ’22
Since the early 2010s, the rise of so-called cryptocurrencies has received significant attention from financial market participants, policymakers, and academics. Cryptocurrencies are digital or virtual currencies (such as bitcoin, Ethererum, Litecoin, and many others) in which transactions are verified and records are maintained by a decentralized, distributed ledger system using cryptography, rather than by a centralized authority.
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Cryptocurrency markets gained a reputation for high volatility in recent years, with rapid price increases and decreases over relatively short periods; however, prices have on net trended up significantly since the beginning of 2019, leading to a perception of cryptocurrencies as lucrative investment vehicles. In January 2022, the Consumer Finance Institute (CFI) at the Federal Reserve Bank of Philadelphia, in conjunction with economists from the Federal Reserve Board, included questions relating to cryptocurrency ownership and opinions in Wave 11 of the CFI COVID-19 Survey of Consumers. The goal was to establish a baseline understanding of the penetration that cryptocurrencies have achieved among the survey population and to identify differences in adoption and attitude across demographic groups.
This research brief presents the findings from the January 2022 survey. Future survey work will be crucial in generating data to evaluate any impact that market changes in 2022 have had on these metrics.
Consumer Finance
Report
by
14 Dec ’21
This report shares results from Wave 10 of a national survey of consumers investigating the effects of COVID-19 on employment and income data, including employment through the crisis, income changes and expectations for income in 2021, and financial security over the next three to 12 months.
Education Finance
Report
by
13 May ’22
This report adds to our understanding of student borrower experiences with and future expectations of student loan repayment, forbearance, and loan cancellation using responses to the January 2022 and April 2022 waves of the COVID-19 Survey of Consumers conducted by the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute (CFI).
Consumer Finance
Brief
The COVID-19 pandemic’s impact on school-age children may last for years. To gauge parents’ concerns about that impact, the Consumer Finance Institute (CFI) included student-related questions in recent editions of its COVID-19 Survey of Consumers as reflected in this latest research brief.
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