Dallas Fed Economics
How AI debt financing impacts duration supply and interest rates
Financing needs related to AI data center investments are likely to be large and persistent. While the overall economics of such investments remains a topic of much debate, the duration supply implications for U.S. interest rate markets have received less attention.
February 10, 2026
At the Heart of Texas
Overview: Texas and its metros
Texas’ large cities provide an important growth advantage in addition to the state’s other favorable economic factors. Those include a central location; ample oil and gas deposits; well-trafficked ports by land, sea and air; proximity to Mexico; a rapidly growing population and workforce; a relatively low cost of living; and a relatively light regulatory burden.
February 06, 2026
At the Heart of Texas
Amarillo: Services take root in panhandle’s ranching, transportation center
Services have become the cornerstone of the economy while many manufacturing plants still thrive, contributing to relatively low poverty and unemployment rates.
February 06, 2026
At the Heart of Texas
Austin–Round Rock–San Marcos: Government and high tech at the state’s center
Austin’s political and educational influence arose from its position as the state capital and home to the University of Texas. Austin is a major high-tech hub for both the state and the U.S. and home to numerous large and small technology companies.
February 06, 2026
At the Heart of Texas
Beaumont–Port Arthur: The Golden Triangle shines as petrochemicals boom
The Spindletop oil discovery near Beaumont in 1901 transformed the small lumber and port town into a thriving oil and gas hub, with one of the nation’s largest concentrations of refineries, petrochemical plants and related businesses.
February 06, 2026
At the Heart of Texas
Dallas–Plano–Irving: Texas’ business and financial services hub
Dallas serves as the business and financial services center for the state and has evolved into a major high-tech, aerospace and defense, and transportation hub. Dallas is the state’s top migrant destination, attracting residents from other states and abroad.
February 06, 2026
At the Heart of Texas
El Paso: Gateway to Mexico relies on commerce, government
Retail is among the largest clusters in El Paso. Health services, food services, and transportation and logistics are also important, reflecting El Paso’s proximity to Mexico and its trading relationship with neighboring Ciudad Juárez.
February 06, 2026
At the Heart of Texas
Fort Worth–Arlington–Grapevine: Transportation-related sectors predominate in local economy
Fort Worth began as an outpost marking Texas’ western frontier. Rail connections and a central location for cattle drives helped establish the city’s identity as “Cowtown,” a moniker that endures.
February 06, 2026
At the Heart of Texas
Houston–Pasadena–The Woodlands: Texas’ Gulf Coast hub and nation’s energy capital
Houston is Texas’ second-largest metro, accounting for one-quarter of the state’s jobs and 27 percent of its economic output. The metro has diversified as the services, transportation and logistics, and biomedical industries have grown in importance.
February 06, 2026
At the Heart of Texas
Lubbock: Texas Tech, agriculture work together in plains economy
Texas Tech University and agriculture have shaped Lubbock’s development since the early 20th century. Health services, education and retail are major contributors to economic activity.
February 06, 2026