Fed actions forestalled burgeoning crisis

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]

Aging populace informs monetary policy

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]