Global Institute Articles in Dallas Fed Economics

• Dallas Fed Economics

  Swap lines curbed global dollar shortages, appreciation during COVID-19 crisis

  During the initial weeks of the COVID-19 crisis, imbalances in the offshore dollar funding market led to safe-haven appreciation of the dollar. Fed swap lines between the U.S. central bank and counterparts abroad addressed these imbalances, subsequently helping reduce the cost of offshore dollar borrowing, reversing dollar appreciation and providing liquidity.

  May 21, 2024

• Dallas Fed Economics

  How global oil sanctions lowered Russian oil export prices

  The decline in Russian oil export revenue since January 2022 was achieved by reducing the Russian export price rather than the volume of Russian oil exports.

  May 14, 2024

• Dallas Fed Economics

  Disparate supply-side forces gave U.S. economy an edge

  The U.S. economy boasts robust growth and slowing inflation despite the highest interest rates in two decades. Such performance isn’t common globally, especially among other advanced economies, revealing crucial differences in the fundamental factors driving inflation and growth.

  March 26, 2024

• Dallas Fed Economics

  U.S. 30-year mortgage predominance doesn’t seem to delay impact of Fed rate hikes

  After comparing economic data of the U.S. and other major advanced economies, we find tentative evidence that the slow adjustment of the outstanding mortgage rate in the U.S. has not played an important role in delaying the intended effects of the monetary tightening.

  January 16, 2024

• Dallas Fed Economics

  Arbitrage limits heighten dollar shortages abroad during volatile times

  U.S. dollars are hard to find in foreign markets during times of heightened risk, as evidenced by two interesting and related features in the post-2007 international financial landscape.

  January 09, 2024