Economic Bulletin Archive

The Economic Bulletin offers snapshots of the Kansas City Fed's latest economic findings and perspectives on national economic conditions and issues related to monetary policy, industries, and markets. The publication launched in 2013 as The Macro Bulletin and became the Economic Bulletin in 2019.

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214 result(s) found
Article Title Author(s) Date Type

Data file for "Not Bullish: U.S. Cattle Herds Hung Up on Higher Interest Expenses"

Data file for the paper, "Not Bullish: U.S. Cattle Herds Hung Up on Higher Interest Expenses" by Cortney Cowley, Ty Kreitman and Francisco Scott.

Ty Kreitman
Cortney Cowley
Ty Kreitman
Francisco Scott Expandable Row
March 30, 2024
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Not Bullish: U.S. Cattle Herds Hung Up on Higher Interest Expenses

Cattle inventories declined to historically low levels at the start of 2024. Cattle producers may face challenges maintaining or restocking herds, as higher interest expenses on cattle and input purchases in 2022–23 have constrained profit margins. Although feed costs have decreased slightly, higher costs for financing and other operating expenses could continue to put pressure on cattle production and profitability.

Cortney Cowley
Ty Kreitman
Francisco Scott Expandable Row
March 29, 2024
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Downtown Office Use Has Declined, but Some Metropolitan Areas Are Faring Better than Others

Hybrid working has cut demand for office space, especially in the downtowns of medium and large metropolitan areas. However, the degree of this decline has varied considerably across metropolitan downtowns, with demand remaining solid in many.

Jordan Rappaport Expandable Row
March 25, 2024
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Data file for "What Has Driven the Recent Increase in Retirements?" Updated March 2024

Data file for the paper, "What Has Driven the Recent Increase in Retirements?" by Jun Nie and Shu-Kuei X. Yang, updated March 2024.

Jun Nie
Shu-Kuei X. Yang Expandable Row
March 22, 2024
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Data file for "What Has Driven the Recent Increase in Retirements?" Updated February 2024

Data file for the paper, "What Has Driven the Recent Increase in Retirements?" by Jun Nie and Shu-Kuei X. Yang, updated February 2024.

Jun Nie
Shu-Kuei X. Yang Expandable Row
March 8, 2024
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Hybrid Work May Pose Challenge to Bars and Restaurants in Parts of the Tenth Federal Reserve District

As remote or hybrid work continues to be popular, office attendance has fallen. Less in-person work may increase office vacancy rates and reduce foot traffic to other businesses located in office-dense areas. Compared with the national average, most states in the Tenth Federal Reserve District have a lower share of office space in office-dense areas, but some of these areas have a higher share of bars and restaurants. The outlook for these businesses may depend on how foot traffic within office-dense areas evolves.

John McCoy Expandable Row
March 1, 2024
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Data file for "Interest Expenses on Farmland Debt Could Challenge Farm Profitability"

Data file for the paper, "Interest Expenses on Farmland Debt Could Challenge Farm Profitability" by Ty Kreitman, February 14, 2024.

Ty Kreitman
Ty Kreitman Expandable Row
February 19, 2024
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Interest Expenses on Farmland Debt Could Challenge Farm Profitability

From 2021 through 2023, farmland values and then interest rates grew, raising interest expenses for crop producers. These higher interest expenses could considerably reduce returns for producers with high levels of land debt. These producers may need large cash down payments to reach profitability with new or refinanced debt.

Ty Kreitman Expandable Row
February 14, 2024
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Bank Deposit Rates Haven't Kept Pace with Yields on Other Investments, but Depositors Are Staying Anyway

Bank deposit outflows continued during 2023 despite rising deposit rates. One possible explanation is that deposit rate increases have not kept pace with rising yields on other investments. For example, spreads between bank deposit rates and yields on deposit substitutes such as money market funds have reached historically high levels. Although the outlook for deposit rates depends on the policy rate path, deposit levels are likely to remain stable under alternative policy scenarios.

W. Blake Marsh
Padma Sharma
Chris Acker Expandable Row
February 7, 2024
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Corporate Interest Expenses Are Expected to Increase Further

Although firm leverage has fallen from pandemic highs, rising interest rates have raised firms’ interest expenses. The effects of this monetary policy tightening are likely to continue unfolding over the next few years. As low-yield, fixed-rate corporate debt issued during the pandemic matures, firms may need to refinance this debt at higher rates, further increasing their interest expenses. However, most corporations are well-positioned to carry these interest expenses so long as their earnings remain stable.

Huixin Bi
W. Blake Marsh
Phillip An Expandable Row
February 2, 2024
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