The Federal Reserve System is getting ready to celebrate its 100th birthday.
More than three years after the end of the Great Recession, the labor market still remains weak, with the unemployment rate at 7.7 percent and payroll employment 3 million less than its pre-recession level.
An assiduous follower of the national house price charts that the New York Fed maintains on its web page may have noticed that we appear to be rewriting history as we update the charts every month..
An oil-price spike is often used as the textbook example of a supply shock. However, rapidly rising oil prices can also reflect a demand shock. Recognizing the difference is important for central bankers.
Last October, Superstorm Sandy caused widespread destruction and massive disruptions to the regional economy, not to mention the lives of millions of residents.
On November 17, 1914, the New York Times reported on Treasury Secretary W. G. McAdoo’s involvement in the authorization of the Federal Reserve System’s operations, including a notice to member Banks, telegrams, and new Reserve notes.
The summer of 2011 was an unsettling period for financial markets. In the United States, Congress was unable to agree to terms for raising the debt ceiling until August, creating considerable uncertainty over whether the government would be forced to default on its debt.
In the second half of 1953, the United States, for the first time, risked exceeding the statutory limit on Treasury debt. How did Congress, the White House, and Treasury officials deal with the looming crisis?
One would be hard-pressed to find a discussion about the timing of retirement these days that doesn’t mention finances.