Southwest Economy, Third Quarter 2022
Third Quarter 2022
- Lorie K. Logan:
New Dallas Fed President’s
As Logan assumed her new duties at the Dallas Fed, she participated in a virtual town hall, answering questions about her background and priorities for the Eleventh Federal Reserve District. This article presents excerpts from that event.
- Maquiladoras, Mexico’s Engine of Trade, Driven to Navigate Evolving Demand
Mexico’s maquiladoras, an important generator of manufacturing and employment activity along the U.S.–Mexico border, confront a changing landscape. Evolving global trade patterns, reflecting stressed supply chains and increasing electric vehicle production, will test maquiladora agility and growth prospects.
- Supply Chains Slowly Mend as Texas
Firms View Recovery in 2023
Christopher Slijk and Emily Kerr
Since the COVID-19 pandemic began in early 2020, disrupted global supply chains have strained Texas businesses trying to meet strong demand. Initial supply shortages affecting primarily manufacturers and retailers intensified and broadened, impacting firms across most industries. Many Texas firms don’t expect supply-chain normalization until 2023, though the latest data suggest conditions are improving
- Big Federal Stimulus, Home-Value
Spike Won’t Ease Next Slump
Historically large federal transfers coupled with rapid home-price appreciation bolstered state and local revenue in Texas, softening the economic impact of COVID-19 on vulnerable populations. Ultra-low interest rates and a historic housing boom that aided state and local government operations are fading, suggesting Texas policymakers may encounter additional difficulties during the next downturn.
- Globalization Remains a Force Despite Pandemic, Political Strains
On the Record: A Conversation with Pol Antràs
Pol Antràs is the Robert G. Ory Professor of Economics at Harvard University. He discusses international trade flows and whether evidence indicates that the world economy has entered an era of deglobalization.
- Spotlight: Texas Exports Reach New Record Despite Strong Dollar
Mytiah Caldwell, Jesus Cañas and Luis Torres
Texas remains the nation’s top exporter, setting records each month despite the recent appreciation of the dollar. A strong dollar can be bad for business because it makes U.S. goods more expensive overseas.
- Around the Region: Office Markets Slowly Emerge from Pandemic Slump
The pandemic seismically shifted work from the office to home, particularly during its initial lockdown phases. Even when these limits and capacity restrictions eased and economic activity rebounded, office space demand remained soft and vacancy rates climbed.
Southwest Economy is published quarterly by the Federal Reserve Bank of Dallas. The views expressed are those of the authors and should not be attributed to the Federal Reserve Bank of Dallas or the Federal Reserve System.
Articles may be reprinted on the condition that the source is credited to the Federal Reserve Bank of Dallas.
Visit dallasfed.org/research/swe to read the full publication. The podcast is available at dallasfed.org/research/swe/podcast.