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

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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Data file for "What Has Driven the Recent Increase in Retirements?" Updated January 2024

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

Jun Nie
Shu-Kuei X. Yang Expandable Row
January 30, 2024
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Data file for "What Has Driven the Recent Increase in Retirements?" Updated December 2023

Data file for "What Has Driven the Recent Increase in Retirements?" by Jun Nie and Shu-Kuei X. Yang, updated December 2023.

Jun Nie
Shu-Kuei X. Yang Expandable Row
December 22, 2023
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Decline in Number of Workers with “Some College” Is Boosting Healthcare Wage Inflation

Compared with the pre-pandemic period, the labor force contains about 1.5 million fewer individuals who have some post-secondary schooling but less than a bachelor’s degree. As a result, vacancies for jobs that require a post-secondary certificate or an associate degree remain elevated, especially in health-related fields. These shortages have contributed to higher wages in the fast-growing healthcare field and are unlikely to resolve quickly.

Emily Pollard Expandable Row
December 20, 2023
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Data file for "Decline in Number of Workers with 'Some College' Is Boosting Healthcare Wage Inflation"

Data file for the paper, "Decline in Number of Workers with 'Some College' Is Boosting Healthcare Wage Inflation": Compared with the pre-pandemic period, the labor force contains about 1.5 million fewer individuals who have some post-secondary schooling but less than a bachelor’s degree. As a result, vacancies for jobs that require a post-secondary certificate or an associate degree remain elevated, especially in health-related fields. These shortages have contributed to higher wages in the fast-growing healthcare field and are unlikely to resolve quickly.

Emily Pollard
Emily Pollard Expandable Row
December 20, 2023
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Community Bank Funding Is Getting Costlier and Riskier

Banks’ core funding has been under pressure since the Federal Open Market Committee (FOMC) began raising rates in early 2022. As depositors shift funds out of low-yielding savings and noninterest-bearing deposit accounts and into more lucrative alternative investments, community banks have increasingly turned to longer-maturity deposits and borrowings to finance their balance sheets. Although these funding sources allow banks to retain their asset size, they are both more expensive and potentially less stable.

Brendan Laliberte
W. Blake Marsh
Padma Sharma Expandable Row
December 19, 2023
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Data file for "What Has Driven the Recent Increase in Retirements?" Updated November 2023

Data file for "What Has Driven the Recent Increase in Retirements?" by Jun Nie and Shu-Kuei X. Yang, updated November 2023.

Jun Nie
Shu-Kuei X. Yang Expandable Row
December 7, 2023
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