Financial markets—specifically derivatives—contain information about the range of probable future short-term interest rates.

Labor force participation among U.S. men and women ages 25 to 54 has been declining for nearly 20 years, a stark contrast with rising participation in Canada over this period. Three-fourths of the ...

Extreme heat decreases labor productivity in sectors like construction, where much work occurs outdoors. Because construction is an important component of investment, lost productivity today will slow ...

The labor force participation (LFP) rate for prime-age workers surged from early 2021 through early 2023, especially for women. This helped reduce the large shortfall of available workers relative to ...

In response to the COVID-19 pandemic, the Federal Reserve cut the federal funds rate to essentially zero. It took further measures to support the functioning of financial markets and the flow of ...

Inflation has climbed since 2021, as the labor market has tightened. Two historical data relationships can account for elevated inflation over the past two years: the Beveridge curve, which relates ...

The 2022 Diary of Consumer Payment Choice finds that the COVID-19 pandemic has continued to affect the way U.S. consumers use and hold cash. The share of payments made in cash dropped sharply from ...

In January 2012, the Federal Open Market Committee (FOMC) announced an explicit inflation target to the public for the first time in its history, stating, “the Committee judges that inflation at the ...

Remarks as prepared for delivery. The most frequent question I am asked these days is, “What will the Fed do next?” I understand. People are worried. Inflation is high and the Federal Open Market ...

The ongoing trend of climate change—including higher temperatures and more extreme weather—will result in economic and financial losses for many businesses, households, and governments. Moreover, the ...

Workers age 55 and older left the labor force in large numbers following the onset of the COVID-19 pandemic. Four years later, participation within this age group has yet to return to pre-pandemic ...