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Report
Exploring causes of and responses to the opioid epidemic in New England
The opioid epidemic remains rampant in New England, where, from 2015 through 2017, more than 10,000 people died from opioid overdoses. In 2017, each of the six states experienced an overdose-death rate that was greater than the national average. Beyond causing a high number of deaths, the opioid epidemic is costing New England productive workers. People with the most severe problems stemming from opioid-use disorder tend to be in the 25?44 age group, but no one is immune. The epidemic affects people of every type?all ages and all races, men and women, residents of rural areas and of urban ...
Discussion Paper
How Do the Fed's MBS Holdings Affect the Economy?
In our previous post, we discussed the meaning of the term “credit allocation” and how it relates to the Federal Reserve’s holdings of agency mortgage-backed securities (MBS). We concluded that the Fed’s MBS holdings do not pose significant credit risk but that the Fed does influence the relative market price of credit when it purchases agency MBS, and this indirectly influences decisions by investors. Today, we take the next step and discuss how the Fed’s MBS purchases affect the U.S. economy and, in particular, how the effect of MBS purchases can differ from the effect of ...
Speech
U.S. Economic Outlook
Remarks by Michael H. Moskow President and Chief Executive Officer Federal Reserve Bank of Chicago
Speech
Keynote Address: The Economic Outlook
Speaking before an audience in Bucks County, PA, Philadelphia Fed President Patrick Harker said that a "new normal" in the economy may mean rethinking policy targets. "Things are unlikely to return to what we considered their relative norms before the recession," he said.
Speech
Student Debt Affects Us All
Speaking to students at Saint Joseph's University, Philadelphia Fed President Patrick Harker discussed how rising student debt levels are affecting not just individual borrowers but the wider economy, including areas fundamental to future growth
Speech
The Prosperity Forum: Economic Mobility Research in Action
The U.S. economy is "doing really well" overall, Philadelphia Federal Reserve Bank president Patrick Harker said on Friday, in a speech that was long on a Fed program aimed at promoting economic mobility and short on broader economic or monetary policy themes. "The reality of the tight labor market means that employers have to start thinking creatively and long term about how they?re going to address the gaps in their workforces," Harker said in remarks prepared for delivery in Philadelphia. The Philadelphia Fed's Economic Growth & Mobility Project, he said, works with local community ...
Speech
Reinventing older communities: bridging growth & opportunity
President Charles Plosser discusses emerging trends in the labor market, demographics, and educational system and discusses how understanding them can help prepare communities for growth and prosperity. He also cites how science, technology, engineering, and math (STEM) jobs will drive future labor demand and productivity.
Speech
An Economic Outlook - 2019 Inquirer Influencers of Finance
Philadelphia Fed President Patrick Harker provided remarks on his economic outlook, the labor market, job skills, and the future of work at the 2019 Inquirer Influencers of Finance event. "It's my hope that more businesses in the region ? and across the country ? will begin to take another look at how they're approaching training and hiring," Harker said.
Speech
Welcome Remarks: Neuroeconomics and Financial Decision Making: Foundations and Applications in New Domains Symposium
President Patrick T. Harker delivered opening remarks at the Philadelphia Fed?s Neuroeconomics and Financial Decision Making symposium. The event explored the emerging field of neuroeconomics and its effects and applications, from individuals? financial decision making to macroeconomics