U.S. Economy

Economic data

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).

Weekly Economic Index

The WEI is an index of 10 daily and weekly indicators of real economic activity, scaled to align with the four-quarter GDP growth rate.

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.

U.S. economic data

List of all U.S. data produced by the Dallas Fed.

Discover articles and papers from our research team

Monetary policy

Inflation

Banking and finance

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Working papers and research

The Effects of U.S. Public R&D on Global Growth

This paper provides the first causal estimates of the global social returns to U.S. public R&D.

Work from Home and Migration

This paper studies how full-time work from home affects migration and economic activity across cities.

How Times Have Changed: The Impact of the 2026 Iran War on the U.S. Economy

The 2026 Iran war has raised the question of how exposed the U.S. economy is to geopolitical oil supply disruptions. This paper develops a two-country model of the global economy with large geopolitical oil supply disruptions that distinguishes between the U.S. economy and the rest of the world.

The Impacts of Unauthorized Immigration on U.S. Labor and Housing Markets: New Evidence from Administrative Microdata

From early 2021 to early 2024, the U.S. experienced an unprecedented boom in unauthorized immigration, followed by a rapid slowdown beginning in mid-2024. This paper provides the first systematic empirical assessment of the labor- and housing-market effects of this episode.

Processing Power: The Effect of Data Centers on Wholesale Electricity Markets

Data centers are reversing two decades of flat U.S. electricity demand. This paper estimates their effect on wholesale electricity markets using an hourly, unit-level dispatch model in which 23 U.S. regional markets trade over capacity-constrained interfaces.

Social Network and Sentiment Contagion: Evidence from the Bitcoin Market

This paper introduces a novel measure of contagion intensity that significantly forecasts Bitcoin volatility, trading volume and market crashes.

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Explore the national economy

Contract design, higher yields make basis trade alternatives attractive

Recent plateauing in activity involving the basis trade, in which investors buy Treasuries and sell their futures, has generated policymaker attention and questions about factors driving the shift. Among questions is the extent to which a deleveraging of Treasury holdings may be affecting demand for short-term funding.

What Big Macs tell us about the disconnect between prices and exchange rates

The Economist’s Big Mac Index is a measure of the real exchange rate that instead of measuring the price of a basket of goods and services, measures the price of one good, the McDonald’s Big Mac. Recent empirical work finds that financial factors, and not monetary ones, underlay a very high correlation between nominal exchange rates and the Big Mac-based real exchange rate.