This morning, New York Fed director of research Jamie McAndrews joined Bank economists to brief the press on economic developments.
Fiscal stimulus, in the form of large discretionary increases in federal spending and tax reductions, is often triggered by a strong and persistent rise in the national unemployment rate.
In this post, we quantify the macroeconomic effects of central bank announcements about future federal funds rates, or forward guidance.
Imagine yourself a Roman citizen in the 1st Century B.C. You’ve gone shopping with your partner, who’s trying to convince you to buy a particular item.
On December 12, 2012, primary government securities dealers bought just 33 percent of the new ten-year Treasury notes sold at auction.
How do bankers do calculations? Currently, on the computer (or calculator).
Since the onset of the subprime crisis, many places across the United States have been affected by high levels of negative equity (meaning that borrowers owe more on their mortgages than their homes are worth), an associated flood of foreclosures, and loss of local wealth.
Why do large movements in exchange rates have small effects on international goods prices?
These lines come from a 1929 play, Shakespeare in Wall Street, a mash-up of famous Shakespearean characters from various plays set to the story of the stock market crisis just then in motion.
In the state of New Jersey, any child between the ages of five and eighteen has the constitutional right to a thorough and efficient education.