(Unmet) Credit Demand of American Households
Basit Zafar, Max Livingston, and Wilbert van der Klaauw One of the direct effects of the 2008 financial crisis on U.S. households was a sharp tightening of credit. Households that had previously been able to borrow relatively freely through credit cards, home equity loans, or personal loans suddenly found those lines closed off—just when they […]
Just Released: Are Recent College Graduates Finding Good Jobs?
Stories abound about recent college graduates who are struggling to find good jobs in today’s economy, especially with student debt levels rising so quickly.
Drilling Down into Core Inflation: Goods versus Services
M. Henry Linder, Richard Peach, and Robert W. Rich Among the measures of core inflation used to monitor the inflation outlook, the series excluding food and energy prices is probably the best known and most closely followed by policymakers and the public. While the conventional “ex food and energy” measure is a composite of the price changes […]
Just Released: The New York Fed Staff Forecast—May 2013
Jonathan McCarthy and Richard Peach As we did last year around this time, we’re presenting the New York Fed staff outlook for the U.S. economy to the Bank’s Economic Advisory Panel at today’s meeting. It provides an opportunity to get valuable feedback from leading economists in academia and the private sector on the staff forecast; such feedback […]
Do Treasury Term Premia Rise around Monetary Tightenings?
Some commentators have expressed concern that Treasury yields might rise sharply once the Federal Open Market Committee (FOMC) begins to raise the federal funds rate (FFR), worrying, in particular, about a sudden increase in Treasury term premia.
Is Job Polarization Holding Back the Labor Market?
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.
State Unemployment and the Allocation of Federal Stimulus Spending
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.
Compensation Growth and Slack in the Current Economic Environment
Following a significant slowing during the recent recession, growth in various labor compensation measures has stabilized during the past two to three years.
Just Released: Going Mobile – Census Bureau Launches Economic Data App
We encounter important economic data every single day. From reports on housing starts to unemployment to gross domestic product to construction spending, economic data are constantly shaping the news and our world. Now, the Census Bureau has made it even easier to keep our fingers on the pulse of these important economic indicators, with the launch of its first mobile application, “America’s Economy.”
Is the 2005 Bankruptcy Reform Working?
While the name of the Bankruptcy Abuse Prevention and Consumer Protection Act suggests two goals, BAPCPA seemed to be more about abuse prevention than consumer protection.