The arrival of COVID-19 brought with it not only a public health crisis, but an economic crisis. The virus has altered the way we work, shop and interact with friends and family. As a result, economic activity slowed and the outlook dimmed. Businesses, expecting sharp declines in profitability, increased their credit usage, and consumers reduced their spending and increased their savings. [Continue]
Demographic trends are reshaping the U.S. labor force, leading economists and policymakers to rethink the key macroeconomic parameters that drive decision making, and reassess their views about the economy’s longer-run growth potential. Like melting glaciers, changes in global demographics are difficult to see in the near term, but over time they will reshape the landscape. [Continue]
The President of the Federal Reserve Bank of Kansas City favors single regulatory framework for entire industry. [Continue]