2. Various survey-based measures of inflation expectations are available in the United States reflecting consumer, market, and economists’ outlooks. For instance, the Survey of Professional Forecasters (SPF) is available from the Philadelphia Federal Reserve at www.philadelphiafed.org/research-and-data/realtime-

center/survey-of-professional-forecasters, while the wellknown University of Michigan consumer inflation expectations survey is available at fred.stlouisfed.org/series/MICH. Compare the most recent readings of inflation expectations of the SPF and Michigan survey to actual CPI inflation. In general, which one seems to be more accurate?