Is the U.S. in a Recession? What Key Economic Indicators Say
Owyang, Michael T.; Stewart, Ashley (2022-09-26)
The majority of economic indicators that the NBER Business Cycle Dating Committee tracks to identify U.S. recessions are still showing growth. How have these measures behaved around past recessions?
On the Economy

Bank Reserves since the Start of Quantitative Tightening
Chien, YiLi; Stewart, Ashley (2024-04-18)
The Fed has been reducing its balance sheet since mid-2022, which also trims the overall level of bank reserves. What other factors might be affecting the demand for bank reserves?
On the Economy

What Lessons Can Be Drawn from Japan’s High Debt-to-GDP Ratio?
Chien, YiLi; Stewart, Ashley (2023-11-14)
Taking into account other public liabilities and assets can provide a clearer picture when comparing Japan’s debt-to-GDP ratio with that of the U.S.
On the Economy

Journal Article
The Recent Rise of U.S. National Wealth
Chien, YiLi; Stewart, Ashley (2022-10-19)
The latest large surge in the U.S. wealth-to-GDP ratio has dwarfed the peaks seen in the past.
Economic Synopses , Issue 28 , Pages 1-2

Journal Article
Central Bank Balance Sheets and Policy Rate Decisions
Chien, YiLi; Stewart, Ashley (2023-05-16)
A comparison of four major central banks shows that those with larger balance sheets relative to GDP in early 2021 had lower policy interest rates in 2023.
The Regional Economist

What Does History Reveal about Reducing the National Debt Burden?
Chien, YiLi; Stewart, Ashley (2023-04-06)
A look at the U.S. national debt since World War II reveals that economic growth and fiscal austerity (i.e., spending cuts and raising taxes) are two of the ways to reduce the debt burden.
On the Economy