Search Results
Report
CFI COVID-19 Survey of Consumers — Relief Programs, Vaccines, and the Effects of the Crisis on Renters and Mortgage Holders
In an effort to gain insights into the impact of COVID-19 on financial security in the U.S., the Consumer Finance Institute at the Federal Reserve Bank of Philadelphia is conducting a series of national surveys of consumers that focus on changes in job status, income levels, and personal financial security. Data presented here represent results from the seventh wave of the survey conducted between January 4 and 15, 2021
Journal Article
Banking Trends Regulatory Changes and Community Banks During COVID
Small banks that received capital relief appear to have been more resilient.
Journal Article
Regional Spotlight: State Business Cycles vs. COVID
Our state business cycle dating algorithm was no match for COVID-19.
Speech
Economic Outlook: Cautious Optimism A Virtual Conversation with Philadelphia Federal Reserve
In remarks to the Philadelphia Chapter of the Risk Management Association, Philadelphia Fed President Patrick Harker shared his insights about the economy and what he sees as the overall impact of the Delta variant, supply chain constraints, unemployment, and the Fed’s asset purchases.
Briefing
Profits and Inflation in the Time of COVID
Following the onset of the COVID pandemic in 2020, inflation accelerated in 2021-22 and peaked at roughly 7 percent in mid-2022. This was an inflation rate not seen since the early 1980s. Among the many accounts of this increase that have been introduced, one attributes the increase to firms being greedy and exploiting supply chain disruptions to raise their prices excessively. In this article, I first argue that a frequent piece of evidence in support of "greedflation" — the increased share of gross operating surplus in the nonfinancial corporate business (NFCB) sector — is not that ...
Speech
Higher Education: The Importance and Urgency of Reform
Patrick T. Harker, Philadelphia Fed president and CEO, urged federal and state governments — and American society — to recommit to public postsecondary education. He addressed a virtual audience at a symposium on the financial viability of higher education institutions hosted by the Philadelphia Fed.
Supply-Chain Woes, Labor Shortages and COVID-19 Slow Resilient Texas Economy
Regional economic growth has slowed, though it remains robust by historical standards. While demand has improved from year-ago levels, supply-chain disruptions and labor shortages have limited output growth and pushed up wages and prices.
Journal Article
Flexibility and Conversions in New York City's Housing Stock: Building for an Era of Rapid Change
Post-COVID, New York City faces reduced demand for commercial space in its central business districts, even as residential demand is resurgent. Just as in past eras of New York’s history, conversion of commercial spaces into housing may help the city adapt to these new market conditions and provide an additional pathway for producing badly needed housing. If 10 percent of office and hotel spaces were converted to residential use, around 75,000 homes would be created, concentrated in Midtown Manhattan. However, there are considerable obstacles to such conversions, including a slew of ...