ECONOMY

Richard Audoly, Miles Guerin, Srinidhi Narayanan, and Rachel Schuh The labor share of income in the U.S. is currently at its lowest-ever…

Shaghil Ahmed, Ozge Akinci, and Albert Queralto The cross-border spillover effects of shifts in U.S. monetary policy have long been a focus…

Pablo D. Azar and Jeff Garofano On October 10, 2025, the announcement of a potential additional 100 percent tariff on Chinese goods drove…

Rajashri Chakrabarti, Thu Pham, Beck Pierce, and Maxim L. Pinkovskiy Editors’ Note: The title of the second chart in this post has…

Martin Almuzara, Richard Audoly, and Davide Melcangi Economists often look at nominal wage growth to gauge labor market imbalances, price pressures, and…

Will Aarons and Asani Sarkar We recently updated the suite of indicators describing the performance of small businesses in the Second District…

Rajashri Chakrabarti, Gabriel Leonard, Donald P. Morgan, Thu Pham, and Lee Seltzer In imperial China, 3 percent was the maximum legal monthly…

Rajashri Chakrabarti, Gabriel Leonard, Donald P. Morgan, Thu Pham, and Lee Seltzer Several states have recently capped consumer loan rates with the…

Natalia Emanuel, Emma Harrington, and Amanda Pallais Youth unemployment has risen dramatically since the pandemic—as has the prevalence of remote work. Our…

Rajashri Chakrabarti, Thu Pham, Beck Pierce, and Maxim L. Pinkovskiy In this post, we use the inaugural release of our regional consumer…