Roundup: Monetary History, COVID-19 and Home Sales, and U.S. Trade with China
Today, we are highlighting some research the St. Louis Fed has recently produced that you may have missed.
This article describes FRED-QD, a large, quarterly frequency database that is a source of macroeconomic “big data.” FRED-QD is currently available to the public and updated in real time using FRED data.
In October 1979, then-Federal Reserve Chairman Paul Volcker persuaded his Federal Open Market Committee colleagues to adopt a new policy framework that (i) accepted responsibility for controlling inflation and (ii) implemented new operating procedures to control the growth of monetary aggregates in an effort to restore price stability. This article reviews the Fed’s “monetarist experiment” from 1979-82.
This article describes the origins and development of the federal funds market from its inception in the 1920s to the early 1950s. It also presents a newly digitized daily data series on the federal funds rate from April 1928 through June 1954.
COVID-19’s effect on U.S.-China trade seems somewhat surprising, with a strong rebound of trade in the relatively early months of the COVID-19 crisis in the U.S., followed by a further strengthening of trade in more recent months.