Did quantitative easing work?
Did QE lower yields and stimulate the economy? What about risks? Weighing the evidence requires a bit of theory.
Why Are Recessions So Hard to Predict? Random Shocks and Business Cycles
Economists are like doctors, not soothsayers. They can't predict recessions, but they can help us understand why one is happening. And that can make all the difference for policymaking.
Tracking U.S. Real GDP Growth During the Pandemic
During this fast-moving pandemic, it's vital that policymakers can rely on real-time estimates of real GDP growth. Jonas Arias and Minchul Shin show us how it's done.
The Free-Banking Era: A Lesson for Today?
Reaching back to a volatile era in U.S. banking history, Daniel Sanches finds insight for today?s challenge of ensuring a stable banking system ? though perhaps not the lesson one might expect.
Nontraditional Insurance and Risks to Financial Stability
Do insurance companies pose a threat to financial stability? Historically, the answer has been no. But the insurance industry?s expansion into nontraditional activities has prompted reconsideration.
Why Credit Cards Played a Surprisingly Big Role in the Great Recession
Lukasz Drozd examines the links between zero-APR credit card offers and the Great Recession’s persistent declines in employment and output.
Banking Trends Regulatory Changes and Community Banks During COVID
Small banks that received capital relief appear to have been more resilient.
Banking Trends: The Growing Role of CRE Lending
Commercial real estate has grown dramatically as a share of U.S. economic activity and is banks? largest lending category, particularly for small and midsize banks. It is also the riskiest part of bank portfolios. James DiSalvo and Ryan Johnston provide a primer. First in a series.
Regional Spotlight: How Third District Firms Were Impacted by COVID-19
The first few weeks of our special COVID Survey tell us a lot about how businesses fared during unprecedented times.
Banking Trends: Measuring Cov-Lite Right
More business loans today lack traditional covenants governing borrowers. Does that leave banks with fewer tools to ward off default?