U.S. Economy

Analyzing the Business Economic Outlook in the United States

In Focus

Trimmed Mean PCE

The Trimmed Mean PCE inflation rate is an alternative measure of core inflation in the price index for personal consumption expenditures (PCE).

Behind the Numbers: PCE Inflation Update

This monthly update provides an in-depth analysis of the latest personal consumption expenditures (PCE) inflation data.

National Economic Update

Dallas Fed economists review recent economic conditions in the United States.

Working Papers and Research

Economic Letter

Corporate Tax Reform: Potential Gains at a Price to Some

Corporate tax reform has become a high-profile issue amid fears that firms are increasingly taking their headquarters and production facilities offshore and booking profits abroad.

Economic Letter

Bank Asset Concentration Not Necessarily Cause for Worry

U.S. banking assets have become substantially more concentrated within a few large institutions.

Working Papers

How Taxes and Required Returns Drove Commercial Real Estate Valuations over the Past Four Decades

The authors document the evolution of U.S. tax law regarding commercial real estate (CRE) since 1975, noting changes in income and capital gains tax rates and tax depreciation methods

Research Working Papers

A New Way to Quantify the Effect of Uncertainty

This paper develops a new method to quantify the effects of uncertainty using estimates from a nonlinear New Keynesian model.

Explore the National Economy

U.S. Economy Charts

Monthly set of charts on U.S. economic activity, wages and prices and financial-sector developments

U.S. Housing Market Charts

Monthly set of charts on U.S. and regional housing markets

Market Value of U.S. Government Debt

Par and market values are reported for gross federal debt, privately held gross federal debt and marketable Treasury debt.