Online Program Home
  My Program

Abstract Details

Activity Number: 118 - SPEED: Data Challenge
Type: Contributed
Date/Time: Monday, July 31, 2017 : 8:30 AM to 10:20 AM
Sponsor: Government Statistics Section
Abstract #323501 View Presentation
Title: Consumer Spending and Federal Reserve
Author(s): Gaurav Sharma* and Bhanu Shandilya and Aditi Pradeep Sharma
Companies: The EMMES Corporation and Mixpanel and UMBC
Keywords: Federal Reserve ; Causal Analysis ; Modeling

The Federal Reserve Bank has the responsibility to determine one of the most economically important policies in the United States. The Federal Reserve Bank sets the Discount Rate, Interest Paid on Excess Reserve Rate, and targets a Federal Funds Rate. These rates have been known to have a vast impact on the economy as a whole, and consumer spending in general. To assess qualitatively, quantitatively and categorically the impact of the various rate decisions by the Federal Bank we will take detailed consumer expenditure data and map that to the policy rates over time. Based on our understanding of the impacts of the different rates on a quarterly basis in consumer expenditure in the broad categories of healthcare, energy, housing, transportation and food & beverage, we plan to analyze the composition of expenditure in those categories using the Consumer Expenditure Survey (CE) database. A risk and precision analysis that will look at each of the variable figures and assumptions to set an expectation of result accuracy will also be conducted.

Authors who are presenting talks have a * after their name.

Back to the full JSM 2017 program

Copyright © American Statistical Association