Speeches and essays
Sustainably restoring price stability: progress so far and risks ahead
President Lorie K. Logan shared her views on the economic outlook and monetary policy.
April 05, 2024
Dallas Fed Economics
Lower interest rates don’t necessarily improve housing affordability
The direct impact of higher mortgage rates on housing affordability has received much attention. We emphasize that housing affordability not only depends on mortgage rates but also on house prices, which have competing effects.
April 02, 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
Revisiting the odd behavior of the Beveridge curve as unemployment stays low
At first glance, it seems unlikely that the unemployment rate would remain stable if the number of job vacancies decreased. However, such a scenario played out recently as the number of firms seeking to fill positions by poaching employees from other firms increased, while the ranks of the unemployed remained relatively stable.
March 05, 2024
Dallas Fed Economics
Inflation forecasts based on money growth proved accurate in 2021, though generally unreliable
As money demand changes, and in particular as money velocity fluctuates with interest rates, this relationship can become unstable with money growth providing limited useful information for inflation forecasting.
February 20, 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
Speeches and essays
Opening remarks at panel on Market Monitoring and the Implementation of Monetary Policy
At the American Economic Association annual meeting, President Logan spoke about market monitoring and the implementation of monetary policy.
January 06, 2024
Dallas Fed Economics
Texas among states feeling most stressed by inflation
As consumer prices have climbed at a faster rate in Texas and surrounding states than nationally—food and shelter increasing even more—Texans are feeling especially stressed about rising prices.
November 07, 2023
Dallas Fed Economics
How long is the soft-landing runway for the labor market?
A normalized labor market likely entails a more-usual relationship between layoffs and labor market tightness indicators, and sooner or later, a higher unemployment rate.
October 19, 2023
Speeches and essays
Financial conditions and the monetary policy outlook
In a speech to the National Association for Business Economics, Dallas Fed President Lorie Logan said the monetary policy implications of recent rises in long-term interest rates depend on whether the increases result from economic strength or elevated term premiums.
October 09, 2023