Monetary Policy and Macroeconomic Research
Our monetary policy and macroeconomic research focuses on national and international economic issues.
Latest Research
Consumer Credit Cards Show Few Signs of Financial Stress
Despite higher interest rates, consumer credit markets show limited evidence of stress, even among subprime borrowers.
The Future of U.S. Productivity: Cautious Optimism amid Uncertainty
Recent productivity growth likely reflects both cyclical and structural factors, including remote work and AI.
Asset Purchases in a Monetary Union with Default and Liquidity Risks
Central bank asset purchases can effectively stabilize economic conditions, especially in scenarios of elevated financial stress.
Federal Government Outlays Remain Historically Elevated, Spurred by Robust Transfers
An increasing share of federal government outlays has shifted to individuals in the form of transfers over time.
Mismatch Unemployment During COVID-19 and the Post-Pandemic Labor Shortages
During the post-pandemic recovery, sectors with larger mismatch unemployment saw higher growth in labor costs.
Introducing the Kansas City Fed’s Measure of Policy Rate Uncertainty (KC PRU)
The KC PRU measures uncertainty around the path of interest rates one year ahead, using the prices of financial options.
Powering Up: The Surging Demand for Electricity
The U.S. economy is becoming more electrified, with data centers and AI fueling a surge in electricity demand.
Should I Stay or Should I Go? Inter-state Mobility and Earnings Gains of Young College Graduates
Lower earnings gains and higher initial debt help explain why young college graduates are less likely to move across state lines.
Labor Shortages in the Healthcare Sector Have Eased, Which May Soften Price Pressures
Lower wage growth may limit price pressures in the healthcare sector.