November 18, 2025
Scott Davis and Lillian Derr
While recent levels of government borrowing have been high, private savings by U.S. residents have been elevated as well. As a result, overall borrowing for the entire U.S economy has been remarkably stable.
November 4, 2025
Garrett Golding and Reid Taylor
Many Texas residents remain skeptical about the reliability of the electric grid since massive dayslong outages in February 2021. Notably, the power supply situation has since improved, with capacity added over the past two years, primarily from solar and a tripling of battery storage capacity.
October 16, 2025
Jesus Cañas, Diego Morales-Burnett and Luis Torres
The Mexican economy grew during the first half of 2025, surprising analysts who had anticipated a recession. However, the outlook is weak, with the consensus forecast implying economic slowdown during the second half.
October 14, 2025
Michael Plante and Isabelle Tseng
Commercial interests are striving to bring new lithium projects online in the U.S. at a time of growing desire to reduce reliance on China-dominated supply chains and with expectations that global demand could double over the next five years.
October 9, 2025
Anton Cheremukhin
Recent employment reports show U.S. payroll employment growth has cooled from its torrid pace in previous years, raising the question of whether this signals a healthy rebalancing or the start of a concerning slowdown.
October 7, 2025
Matthew J. McCormick and Hugo DeVere
Understanding the underlying network structure of money markets provides valuable insights for monitoring reserve scarcity and its evolution in response to regulatory and market changes.
October 2, 2025
Rosie Levy
Efficient allocation of bank reserves improves central bank balance sheet efficiency. Frictions in such redistribution can affect monetary policy implementation.
September 30, 2025
Philippe Bacchetta, Scott Davis and Eric van Wincoop
Starting in late 2007, the Federal Reserve, in partnership with a few major foreign central banks, began offering central bank dollar liquidity swap lines as an important liquidity backstop.
September 25, 2025
Lorie Logan and Sam Schulhofer-Wohl
The Federal Open Market Committee primarily adjusts the stance of monetary policy through its target range for the federal funds rate. We discuss whether the fed funds rate remains the right operating target for short-term interest rates.
September 23, 2025
Tyler Atkinson and Jim Dolmas
How much is current "excess" inflation? We take a new approach to this question, focusing on movements in relative prices.