Panel Discussion: Inflation and Household Finance
In the last 18 months, inflation in the United States and many other countries has risen to levels last seen in the early 1980s. Inflation has many effects on the economy; some of the most important involve household finance. At the July 2022 meeting of the NBER Household Finance Working Group, Stephen Zeldes of Columbia University moderated a panel discussion that explored the consequences of high inflation for consumer spending, borrowing, and saving. Four panelists — Carola Binder of Haverford College, Jonathan Parker and James Poterba of MIT, and Martin Schneider of Stanford University — offered their perspectives on these issues.