Liberty Street Economics
December 29, 2014

Data Insight: Which Growth Rate? It’s a Weighty Subject

The growth rate in real gross domestic product (GDP) is a conventional indicator of the economy’s health.

Posted at 7:00 am in Macroecon | Permalink | Comments (3)
December 22, 2014

Is There a Future for Credit Default Swap Futures?

Or Shachar Last year, IntercontinentalExchange (ICE) launched a credit default swap index futures contract. In the first two weeks there were spurts of interest in it, but soon it became evident that the new product was unable to generate sufficient demand. Given their short life span in the credit default swaps (CDS) market, the question […]

Posted at 7:00 am in Financial Markets | Permalink | Comments (1)
December 19, 2014

Just Released: New Source for Perspective on Regional Household Debt and Credit

The New York Fed has released a new product—the Household Debt and Credit Report for the Second District—which tracks consumer credit conditions in the tri-state area.

Posted at 11:15 am in Household Finance | Permalink | Comments (1)

Historical Echoes: Santa Claus as Legal Tender

From 1793 until 1861, when the U. S. Treasury Department was given exclusive rights to produce legal tender, thousands of different styles of bank notes were created by U.S. banks.

Posted at 7:00 am in Historical Echoes, Treasury | Permalink | Comments (0)
December 8, 2014

Global Asset Prices and the Taper Tantrum Revisited

Global asset market developments during the summer of 2013 have been attributed to changes in the outlook for U.S. monetary policy, starting with former Chairman Bernanke’s May 22 comments concerning future curtailing of the Federal Reserve’s asset purchase programs.

December 5, 2014

Survey Measures of Expectations for the Policy Rate

Market prices provide timely information on policy expectations.

Interest Rate Derivatives and Monetary Policy Expectations

Market expectations of the path of future policy rates can have important implications for financial markets and the economy.

Crisis Chronicles: The Panic of 1819—America’s First Great Economic Crisis

As we noted in our last post on the British crisis of 1816, while Britain emerged from nearly a quarter century of war with France ready to supply the world with manufactured goods, it needed cotton to supply the mills, and all of Europe needed wheat to supplement a series of poor harvests.

December 3, 2014

Why Do Banks Keep All That “Fracking” Money?

In a recent post, I discussed the significant impact that “fracking” and other unconventional energy development has had on bank deposits.

December 1, 2014

What Do Banks Do with All That “Fracking” Money?

Banks play a crucial role in the economy by channeling funds from savers to borrowers.

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Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.

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