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U.S. Economy

Analyzing the Business Economic Outlook in the United States
In Focus
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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).

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economy
Behind the Numbers: PCE Inflation Update

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

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National Economic Update

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

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Working Papers and Research

Economic Letter

Navigating by the Stars: The Natural Rate as Economic Forecasting Tool

Fed policymakers must assess the stance of monetary policy each time they decide whether the target federal funds rate should be changed.

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Working Papers

New Findings on the Fiscal Impact of Immigration in the United States

This paper examines a 2016 National Academies of Sciences, Engineering, and Medicine report on the economic and fiscal effects of immigration that included the first set of comprehensive fiscal impacts published in 20 years.

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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

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Economic Letter

Is the Next Recession Around the Corner? Probably Not

A “profits recession” often predicts a real recession. A view of recessions as gluts of competition explains why this time a real recession is not imminent.

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Explore the National Economy
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U.S. Economy Charts

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

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U.S. Housing Market Charts

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

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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.

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