A quarterly research publication with articles on macroeconomics and monetary policy, regional and international economics, banking and financial markets.

Economic Review

A quarterly research publication with articles on macroeconomics and monetary policy, regional and international economics, banking and financial markets.

Latest Articles

Economic Review

The Evolving Link between Oil Prices and U.S. Consumer Spending

Oil price swings are less likely to yield major changes in consumption, even among lower-income households.

Economic Review

Did the Federal Reserve Anchor Inflation Expectations Too Low?

Federal Reserve communications better anchored longer-term inflation expectations, but may have anchored them too low.

Economic Review

How You Say It Matters: Text Analysis of FOMC Statements Using Natural Language Processing

In FOMC statements, qualitative descriptions of economic conditions can affect bond prices as much as quantitative information.

Economic Review

Drought Risk to the Agriculture Sector

Farmer losses from extreme drought represent an economically relevant share of crop production values.

Economic Review

The Macroeconomic Fallout of Shutting Down the Banking System

Preventing the suspension of bank deposits during recessions may also prevent longer-term economic losses.

Economic Review

Unconventional Monetary Policy and International Interest Rate Spillovers

Expansionary spillovers from foreign central banks may have weighed down long-term interest rates in the United States since 2015.