2/20/2009 3:58:00 AM By
The Survey of Consumer Finance, run by the Federal Reserve Board of Governors, has been a consistent source of U.S. household financial information. While primarily used to look at savings and spending patterns (see Krugman's recent New York Times editorial highlighting the SCF release), increasingly the Federal Reserve has been studying how one might get more about small business finance from the Survey of Consumer Finance.
We applaud the Fed for considering how the SCF might get more information on small business owners but do worry that their proposed direction will be difficult to be successful in given the existing response burden on complicated cases in the SCF. That said, they won't know until they pretest if they can be successful. In the longer term, we hope the Fed will consider reimplementing some effort which specifically targets small business financing. In 2008, the Federal Reserve disctontinued the Survey on Small Business Finance.
1/14/2009 1:29:00 AM By