Monetary Policy and Macroeconomic Research
Latest Research
Federal Enhancements to Unemployment Insurance Supported Tenth District Incomes in 2020
Federal supplements to state unemployment insurance mitigated income losses from COVID-19-related disruptions across the...
What Happens When the Minimum Wage Rises? It Depends on Monetary Policy
The central bank’s policy stance may influence how an increase in the minimum wage affects the economy.
Financial Constraints, Sectoral Heterogeneity, and the Cyclicality of Investment
Following monetary policy contractions, firms with financial flexibility take advantage of declining prices for capital goods...
Women without a College Degree, Especially Minority Mothers, Face a Steeper Road to Recovery
The pandemic-induced recession weighed most on the labor force participation of prime-age women without a bachelor’s degree, ...
What Has Driven the Recent Increase in Retirements?
During the pandemic, the share of retirees in the U.S. population rose much faster than its normal pace. Typically, an...
Fiscal Relief during the COVID-19 Pandemic
The fiscal policy response to the pandemic aided sectors of the economy most in need of funds, but the long-term effects of...
To Improve the Accuracy of GDP Growth Forecasts, Add Financial Market Conditions
More timely data on current macroeconomic conditions can reduce uncertainty about forecasts, helping policymakers mitigate the...
Puzzlingly Divergent Trends in Household Wealth and Business Formation
Economic theory suggests wealthier households are more likely to start businesses—but the rate of new business formation has...
The Evolving Relationship between COVID-19 and Financial Distress
During most of the COVID-19 pandemic, regions with high financial distress saw disproportionately more infections and deaths...