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Research and analysis of economic trends and developments

Lillian Derr and Mark Wynne

There has been incredible stability in the rate of improvement in U.S. living standards over time. As first documented by Stanford economist Charles Jones, living standards, measured by GDP per capita, have risen at a pretty constant rate of about 2 percent per year in the U.S. for more than 150 years.

Samuel Dodini and Tucker Smith

Evidence suggests that generative AI (GenAI) has reduced demand for positions in which the new technology can more efficiently complete tasks than humans.

Samuel Dodini and Tucker Smith

Texas firms are increasingly integrating generative artificial intelligence (GenAI) into their business processes. Two-thirds of firms surveyed in the May 2026 Texas Business Outlook Survey reported using AI, up from 40 percent two years prior.

Rosie Levy and Srini Ramaswamy

Development of faster payment infrastructure has accelerated in recent years. Real-time payment options for individuals and businesses have grown substantially, including the Federal Reserve’s FedNow platform allowing instant payment processing for eligible banks and credit unions.

Enrique Martínez García and Ron Mau

Higher tariffs do not automatically show up one-for-one in consumer prices. Price effects depend on how firms respond. Foreign exporters may cut pre-tariff prices to preserve access to the U.S. market, while domestic importers or retailers may absorb part of the increase with lower margins.

Tyler Atkinson, Jim Dolmas and Rebecca Zarutskie

To gauge the medium-term trend in underlying inflation, the Dallas Fed’s Trimmed Mean personal consumption expenditures (PCE) inflation rate drops price changes in the tails of the monthly distribution of PCE components, minimizing the impact of outliers.

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Dallas Fed Economics