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

Banks’ Commercial Real Estate Risks Are Uneven

Investors have been acutely attuned to commercial real estate (CRE) risks recently due to higher interest rates and changes in how Americans work. On the surface, these risks may seem particularly concerning for small and regional banks, which tend to hold large concentrations of loans backed by commercial properties. However, we show that CRE risks can vary substantially across property types and geographic locations, suggesting that aggregate CRE exposure may be a poor measure of risk.

Jordan Pandolfo
W. Blake Marsh Expandable Row
April 18, 2024
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Foreign-Born Women Have Driven the Recent Increase in Prime-Age Women in the Labor Force

The labor force participation rate of prime-age (25 to 54) women declined dramatically during the pandemic-led recession but has since recovered to an all-time high. We examine how different groups have contributed to this rebound and find that foreign-born women, particularly those with a bachelor’s degree, account for most of the increase in the number of prime-age women in the labor force. Immigration, in turn, fueled the increase in the number of foreign-born women in the labor force.

Didem Tüzemen
Emily Pollard Expandable Row
April 15, 2024
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Data file for "What Has Driven the Recent Increase in Retirements?" Updated through March 1, 2024

Data file for the paper, "What Has Driven the Recent Increase in Retirements?" by Jun Nie and Shu-Kuei X. Yang, updated through March 1, 2024.

Jun Nie
Shu-Kuei X. Yang Expandable Row
April 15, 2024
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Data file for "Not Bullish: U.S. Cattle Herds Hung Up on Higher Interest Expenses"

Data file for the paper, "Not Bullish: U.S. Cattle Herds Hung Up on Higher Interest Expenses" by Cortney Cowley, Ty Kreitman and Francisco Scott.

Ty Kreitman
Cortney Cowley
Ty Kreitman
Francisco Scott Expandable Row
March 30, 2024
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Not Bullish: U.S. Cattle Herds Hung Up on Higher Interest Expenses

Cattle inventories declined to historically low levels at the start of 2024. Cattle producers may face challenges maintaining or restocking herds, as higher interest expenses on cattle and input purchases in 2022–23 have constrained profit margins. Although feed costs have decreased slightly, higher costs for financing and other operating expenses could continue to put pressure on cattle production and profitability.

Cortney Cowley
Ty Kreitman
Francisco Scott Expandable Row
March 29, 2024
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Downtown Office Use Has Declined, but Some Metropolitan Areas Are Faring Better than Others

Hybrid working has cut demand for office space, especially in the downtowns of medium and large metropolitan areas. However, the degree of this decline has varied considerably across metropolitan downtowns, with demand remaining solid in many.

Jordan Rappaport Expandable Row
March 25, 2024
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Data file for "What Has Driven the Recent Increase in Retirements?" Updated March 2024

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

Jun Nie
Shu-Kuei X. Yang Expandable Row
March 22, 2024
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Data file for "What Has Driven the Recent Increase in Retirements?" Updated February 2024

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

Jun Nie
Shu-Kuei X. Yang Expandable Row
March 8, 2024
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Hybrid Work May Pose Challenge to Bars and Restaurants in Parts of the Tenth Federal Reserve District

As remote or hybrid work continues to be popular, office attendance has fallen. Less in-person work may increase office vacancy rates and reduce foot traffic to other businesses located in office-dense areas. Compared with the national average, most states in the Tenth Federal Reserve District have a lower share of office space in office-dense areas, but some of these areas have a higher share of bars and restaurants. The outlook for these businesses may depend on how foot traffic within office-dense areas evolves.

John McCoy Expandable Row
March 1, 2024
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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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