Monetary Policy and Macroeconomic Research
Our monetary policy and macroeconomic research focuses on national and international economic issues.
Latest Research
Treasury Supply Shocks: Propagation Through Debt Expansion and Maturity Adjustment
We examine how federal debt management decisions transmit to financial markets and the broader economy.
Sticky Prices for Inflationary Economies
A new method assesses how the costs firms incur to adjust their prices determine inflation and affect monetary policy.
How Ricardian Are We?
Estimates with new time series methods suggest households act as if they will bear only a fraction of outstanding government debt.
A New U.S. Productivity Chapter? What Industry Data Say About AI
AI adoption aligns with faster productivity growth across industries but has yet to explain the aggregate gain in productivity.
Inflation Persistence as an Outcome of Monetary Policy
A muted monetary policy response may explain inflation persistence during 2021–22.
Investigating the Recent Decline in Community College Enrollment
Community college enrollment has fallen since 2010, driven mainly by demand factors.
Introducing New Monthly Estimates of the Natural Rate of Interest and Natural Unemployment Rate
The Kansas City Fed’s measures of r* and u* provide more timely data on labor market tightness and the stance of monetary policy.
Who Uses AI for Pricing?
Larger firms are more likely to use AI to set prices, and firms that have adopted AI have grown larger and more profitable.
What Do LLMs Want?
Large language models (LLMs) seem more impatient and altruistic than humans in economic experiments.