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The ratio of wealth to disposable personal income reached a new high in 2016. Recessions followed two previous highs. Might it happen again?
FOMC meeting minutes come out Wednesday. Data releases include new home sales (Tuesday), Q1 GDP second estimate (Friday). See FRED calendar.
The latest Page One Economics looks at the arguments for and against.
St. Louis-area high school teacher Rodney Gerdes has been named the first recipient of the award from the Federal Reserve Bank of St. Louis.
St. Louis Fed President James Bullard said in St. Louis that U.S. macroeconomic data have been relatively weak since the Federal Open Market Committee (FOMC) met in March and raised the fed funds rate. Financial market readings since then “may suggest that the FOMC’s contemplated policy rate path is overly aggressive relative to actual incoming data.”
Presentation (pdf)
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Press Release
At an Atlanta Fed conference, St. Louis Fed President James Bullard examined the downward trend in the natural real rate of interest. He also discussed the implications of the low natural rate for the Fed’s policy rate.
Presentation (pdf)
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Press Release
The heart of this year’s report is a series of essays about the importance of educating one and all about the basics of economics and personal finance.
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In the fourth quarter of 2016, auto debt grew more slowly but subprime delinquencies on car loans rose.
Some people argue that immigrants make life harder for workers who are already U.S. citizens. But the data don’t show much of a correlation between immigration and the unemployment rate or between immigration and wages.
Much attention has been paid lately to corporate inversions, in which U.S.-based multinational corporations move their parent companies to countries where taxes are lower. Past attempts to curtail such tax avoidance have had some success, but companies always find a way around the new rules. Would lowering tax rates in the U.S. help?
After declining for almost eight years, yields on U.S. Treasuries turned upward in the second half of 2016. Several domestic and international factors have led to a decrease in demand for these bonds.
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