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.

U.S. Economic Update

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

Working Papers and Research

Institute Working Papers

Geographic Inequality of Economic Well-being among U.S. Cities: Evidence from Micro Panel Data

This paper analyzes the geographic inequality of economic well-being among U.S. cities by utilizing a novel measure of quantity based product-level economic well-being, i.e., the number of goods and services that can be purchased by consumers with an average city wage.

Economic Letter

Labor Market Not Overly Tight, Demographically Adjusted Measure Shows

Elevated inflation traditionally accompanies prolonged low unemployment rates, such as those currently observed in the U.S. However, price pressures have remained comparatively restrained, prompting further examination.

Research Working Papers

Equity Regulation and U.S. Venture Capital Investment

There is a growing consensus that the long-run per capita growth rate of the U.S. economy has drifted lower since the early 2000s, consistent with a perceived slowdown in business dynamism.

Economic Letter

Reserve Adequacy Explains Emerging-Market Sensitivity to U.S. Monetary Policy

Emerging economies that borrow in U.S. dollars are sensitive to U.S. monetary policy due to changing exchange rates.

Explore the National Economy

U.S. Economy Charts

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

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.

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.