The Capitol Since the Nineteenth Century: Political Polarization and Income Inequality in the United States
Even the most casual observer of American politics knows that today’s Republican and Democratic parties seem to disagree with one another on just about every issue under the sun
Just Released: The New York Fed Staff Forecast—May 2014
Today, the Federal Reserve Bank of New York (FRBNY) is hosting the spring meeting of its Economic Advisory Panel (EAP).
Just Released: The Inflation Outlook in the Euro Zone . . . Survey Says
The European Central Bank (ECB) released its 2014:Q1 Survey of Professional Forecasters (SPF) on February 13.
Just Released: Does Transportation Spending Make Good Stimulus?
On January 14, the Transportation Research Board, an arm of the National Research Council, released a new report, Transportation Investments in Response to Economic Downturns.
A Mis‑Leading Labor Market Indicator
The unemployment rate is a popular measure of the condition of the labor market.
Has the Fed Stabilized the Price Level?
Marc P. Giannoni and Hannah Herman The Federal Reserve Reform Act of 1977 established the monetary policy objectives of maximum employment, stable prices, and moderate long-term interest rates. The goal of “stable prices” has long been understood to mean a low positive inflation rate. On January 25, 2012, the Federal Open Market Committee (FOMC) explicitly […]
Yen and Yang: The Response of the Nikkei to the Yen
To what extent are Japanese equities driven by changes in the value of the yen?
On the Design of Monetary and Macroprudential Policies
The financial crisis, recession, and slow recovery have emphasized the interactions between financial markets and the real economy.
What’s News?
Linda S. Goldberg Economic news moves markets. Most analyses find that economic news is incorporated quickly (within minutes) into asset prices, with some measurable persistence of these effects, and with some spillovers across national borders. Some types of announcements—for example, U.S. nonfarm payrolls announcements—generate much larger asset price responses than others. Generally, news that is […]
Preparing for Takeoff? Professional Forecasters and the June 2013 FOMC Meeting
Following the June 18-19 Federal Open Market
Committee (FOMC) meeting different measures of short-term interest rates
increased notably.
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