Journal Article
A Taxing Question for the Fed
Fessenden, Helen (2018-01)
The Fed has long emphasized uncertainty in assessing the economic effects of tax cuts. Both history and theory might help explain why
Econ Focus , Issue 1Q , Pages 4-7

Journal Article
Small Businesses Report Better Financing Outcomes
Borek, Nathaniel (2016-04)
Small businesses provide substantial employment and services and are an important part of the U.S. economy. One measure of small business conditions is the findings of the 2015 Small Business Credit Survey1 (SBCS). The survey, which is a collaborative effort of the community development departments of the Federal Reserve Banks of New York, Atlanta, Boston, Cleveland, Philadelphia, Richmond, and St. Louis, includes responses from small businesses operating in 26 states.2 This article summarizes highlights of the 2015 SBCS.
Cascade , Volume 2

Journal Article
Computer Models at the Fed
Price, David A. (2018-04)
Modeling the U.S. economy on computers has come a long way since the 1950s. It's still a work in progress
Econ Focus , Issue 2Q , Pages 3-5

Speech
A Brief History of the Fed Universe
Harker, Patrick T. (2019-04-17)
In remarks to the Greater Vineland Chamber of Commerce in New Jersey, Philadelphia Fed President Patrick T. Harker kept his outlook in line with that of recent weeks. ?I continue to be in wait-and-see mode, and my outlook for rates remains, at most, one hike for 2019 and one for 2020,? he said.
Speech , Paper 164

Working Paper
The Evolution of U.S. Monetary Policy
Hetzel, Robert L. (2018-01-03)
Since the establishment of the Federal Reserve System in 1913, policymakers have always pursued the goal of economic stability. At the same time, their understanding of the world and of the role of monetary policy has changed dramatically. This evolution of views provides a laboratory for understanding what kinds of monetary policy stabilize the economy and what kinds destabilize it.
Working Paper , Paper 18-1

Journal Article
Implementing Monetary Policy in a Changing Federal Funds Market
Lester, Benjamin (2019-04)
As the Fed normalizes its balance sheet, it helps to understand how the federal funds market used to operate, how it changed in the wake of the crisis, and what comes next.
Economic Insights , Volume 4 , Issue 2 , Pages 15-20

Journal Article
How Do Banks Use the Discount Window?
Fessenden, Helen; Haltom, Renee Courtois (2018-04)
Highlighted research of "The Fed's Discount Window: An Overview of Recent Data." Felix P. Ackon and Huberto M. Ennis. Federal Reserve Bank of Richmond Economic Quarterly, First-Fourth Quarter 2017, vol. 103, nos. 1-4, pp. 37-79.
Econ Focus , Issue 2Q , Pages 8-8

A Look at the Fed’s Emergency Lending Programs
Neely, Christopher J. (2020-12-22)
The Federal Reserve launched an alphabet soup of programs in response to the COVID-19 pandemic.
On the Economy

Journal Article
The Fed's Discount Window: An Overview of Recent Data
Ennis, Huberto M.; Ackon, Felix P. (2017-01)
From July 2010 until June 2015, the Federal Reserve made over 16,000 loans to financial institutions through the discount window. Recent regulations mandate the release of detailed information about individual loans two years after their occurrence. We study the newly available loan data and uncover the main patterns that broadly describe activity at the Fed's discount window in recent years.
Economic Quarterly , Issue Q1-Q4 , Pages 37-79

Key Elements of the Fed’s New Monetary Policy Strategy
Bokun, Kathryn; Kliesen, Kevin L. (2020-10-20)
In August, the Fed announced completion of its framework review that resulted in a new monetary policy strategy. How does the new strategy differ from the previous one?
On the Economy