Did you know that buying a credit default swap can be like buying insurance on your neighbor’s car—and then getting paid when that neighbor has an accident? Learn the ABCs of CDS, and find out why they are so important to any discussion of the European debt crisis.

(14 Reviews)

District Overview: Reallocation of Credit, a Measure of Financial Activity, Has Yet To Bounce Back

By Constanza S. Liborio and Juan M. Sánchez

(0 Reviews)

Reader Exchange: Ask an Economist, and Letters to the Editor

By Fernando M. Martin

(0 Reviews)

In-Depth: St. Louis Fed President James Bullard Explores the “Death of a Theory”

(0 Reviews)

Why Health Care Matters and the Current Debt Does Not

By Brett W. Fawley and Luciana Juvenal

All of the attention given to raising the debt ceiling this past summer might lead some to believe that spending by the federal government only recently became unsustainable. Hardly. We've been on this path a long time.

(0 Reviews)

National Overview: The Economy Continues To Strengthen, but Risks Remain

By Kevin L. Kliesen

(0 Reviews)

Final Dates Set for Electronic-Only Federal Benefits Payments

(0 Reviews)

Federal Reserve Offers Homeowners MORE

(0 Reviews)

Low Interest Rates Have Benefits … and Costs

By Kevin L. Kliesen

On the plus side, low interest rates can spur spending by businesses and households. But low interest rates discourage saving and encourage people to take more risks when investing.

(10 Reviews)

National Overview: The Economy Looks for Its Second Wind

By Kevin L. Kliesen

(0 Reviews)

President's Message: The European Debt Crisis: Lessons for the U.S.

By James Bullard

(6 Reviews)

Deficits, Debt and Looming Disaster: Reform of Entitlement Programs May Be the Only Hope

By Michael R. Pakko

With government deficits and debt at record highs, the long-term fiscal outlook for the U.S. requires serious attention, most agree. The fix is most likely going to have to start with fundamental reforms of entitlement programs.

(5 Reviews)

Extra Credit: The Rise of Short-term Liabilities

By Kristie M. Engemann and Michael T. Owyang

Not only are more American families in debt, but the median value of the debt more than doubled between 1989 and 2004. Credit cards and payday loans are two of the favorite tools for digging the hole deeper.

(0 Reviews)

As Boomers Slow Down, So Might the Economy

By Kevin L. Kliesen

Baby boomers will start retiring in droves in January. Coupled with the slowdown in productivity and the near-zero saving rate, growth in GDP could fall to levels not seen in 25 years.

(0 Reviews)

Survey Says Families Are Digging Deeper into Debt

By Kevin L. Kliesen

The Fed’s triennial Survey of Consumer Finances found that median household debt rose almost 34 percent between 2001 and 2004, while net worth rose just 1.5 percent.

(0 Reviews)

Up, Up and Away: Personal Bankruptcies Soar!

By Thomas A. Garrett and Lesli S. Ott

Over the past 24 years, the U.S. rate of personal bankruptcies jumped nearly 350 percent. The rate varies greatly among states. Tennessee’s rate last year—the highest in the nation—was more than 10 filings per 1,000 people, nearly four times the rate in Massachusetts.

(0 Reviews)

Cash-Out Refinancing: Check It Out Carefully

By William R. Emmons

Lower interest rates can make mortgage refinancing a good idea, but borrowers need to pay attention to more than just the monthly payment. Cash-out refinancing is especially tricky because it entails taking on a larger mortgage. This can lead to a greater repayment burden in the future.

(0 Reviews)

The Real Population Problem: Too Few Working, Too Many Retired

By William Poole and David C. Wheelock

It's not the total number of people that should be causing worry, but the number of retired people relative to those still working. Across the world, the ranks of retirees are swelling as the ranks of those working—and paying taxes to support retirees—are not keeping up. Something—or someone—has got to give.

(2 Reviews)

Enhancing Future Retirement Income through 401(k)s

By Kevin L. Kliesen

With too many retirees and too few funds expected, the future of the country’s Social Security and Medicare programs is likely to be in peril. Can 401(k)s save the day?

(1 Reviews)

Assessing the Generational Gap in Future Living Standards through Generational Accounting

By Kevin L. Kliesen

Figuring out how to equalize the tax burden across generations is easy. Deciding who’s going to pay for it is the hard part.

(0 Reviews)

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