Banking Trends & Supervisory Update
|
|
- Mervin Bond
- 5 years ago
- Views:
Transcription
1 Gladwyne
2 Banking Trends & Supervisory Update William Spaniel Senior Vice President and Lending Officer
3 Overview Banking Trends Regulatory Updates Regulatory Relief Resources
4 Banking Trends Third District conditions remain stable and continue to improve Capital ratios are increasing Asset quality metrics improving Banks are adjusting balance sheets in preparation of rising rate environment Third District challenges to financial performance Banks are augmenting earnings with nonrecurring income sources
5 Banking Trends Third District challenges to financial performance Increased competition for loans and deposits Greater reliance on noncore funding sources to grow balance sheets Commercial real estate concentrations are closely monitored by regulators At national level, seeing declines in the subprime areas for auto lending and credit card portfolios
6 Regulatory Relief Interagency efforts (final) Adopted rule to expand examination cycle for qualifying institutions (SR letter 17-2) Issued an advisory to address appraisal shortage Permits for temporary practice and reciprocity by state appraiser regulatory agencies Temporary waivers from certification or licensing requirements to perform appraisals (SR letter 17-4)
7 Regulatory Relief Interagency notices (proposed rules) Increase appraisal threshold for CRE transactions to $400 thousand Revisions to Call Report Federal Reserve proposals Provide better direction to management and board of directors Treasury Report issued June 12, 2017
8 Regulatory Updates Consumer compliance New interagency consumer compliance rating system, effective March 31, 2017 (CA letter 16-8) Increased reporting of cases relating to fair lending and Unfair, Deceptive or Abusive Acts and Practices Amendments to Home Mortgage Disclosure Act will increase reporting requirements
9 Regulatory Updates Cybersecurity Financial institutions remain targets for cybersecurity attacks and must have fundamentals in place for protection Regulators encourage the use of the cybersecurity assessment tool Marijuana banking
10 Regulatory Updates CECL Regulatory agencies issued frequently asked questions (SR letter 17-8) and plan to update guidance as needed Examiners may ask about preparation and planning for compliance during supervisory events Financial institutions need to be thoughtful in approach and preparation
11 Resources Supervision, Regulation and Credit will host outreach events throughout Third District in 2017 and 2018 Outreach Coordinator Ivy Washington Publications and other Federal Reserve opportunities Ask the Fed Community Banking Connections Consumer Compliance Outlook
12 Banking Trends & Supervisory Update William Spaniel Senior Vice President and Lending Officer
13 Report on Economic Developments Ryo Tashiro* Economic and Public Outreach Associate *The views expressed today are my own and not necessarily those of the Federal Reserve Bank of Philadelphia or the Federal Reserve System
14 PRESENTATION OUTLINE GDP and near-term outlook (3 slides) Employment conditions (6 slides) Skills mismatch in the labor market (3 slides) Housing conditions update (2 slides) Inflation and monetary policy update (2 slides)
15 GDP and near-term outlook
16 GROWTH AND FORECAST FOR U.S. REAL GDP Quarterly (SAAR): 2008:Q1-2018:Q3 Annualized quarterly growth rate (SAAR) 6% 4% 2% 0% 2017: Q2=3.0% -2% -4% -6% -8% Date 2017:Q3 2017:Q4 2018:Q1 2018:Q2 2018:Q3 Forecast 2.6% 2.3% 2.2% 2.4% 2.4% Jan 2008 Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 GDP SPF Forecast Source: BEA via Haver Analytics Quarters plotted (actual): 2008:Q1-2017:Q2 (second estimate) Quarters plotted (forecast): 2017:Q3-2018:Q3
17 THIRD DISTRICT CURRENT BUSINESS OUTLOOK Most recent values are labeled Diffusion index (% reporting increase less % reporting decrease) Manufacturing Non-Manufacturing Source: FRB Philadelphia via Haver Analytics Months plotted: Jan Sep 2017 Jan 2008 Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018
18 THIRD DISTRICT FUTURE BUSINESS OUTLOOK Most recent values are labeled Diffusion index (% reporting increase less % reporting decrease) Manufacturing Non-Manufacturing Source: FRB Philadelphia via Haver Analytics Months plotted: Jan Sep 2017 Jan 2008 Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018
19 Employment conditions
20 CHANGE IN MONTHLY U.S. PAYROLL EMPLOYMENT Black lines indicate annual averages (in thousands) Change in payroll employment (thousands, SA) Aug 2017: 156 Avg last 12 months Source: BLS via Haver Analytics Months plotted: Jan Aug 2017 Black lines indicate annual averages. Jan 2012 Jan 2014 Jan 2016
21 STATE COINCIDENT INDEXES Percentage change over the last 3 months Source: FRB Philadelphia
22 TRI-STATE METRO AREA EMPLOYMENT GROWTH Year-over-year percentage change (3-month moving average) A = Allentown-Bethlehem-Easton MSA B = Altoona MSA C = Atlantic City-Hammonton MSA D = Bloomsburg-Berwick MSA E = Camden Metro Division F = Chambersburg-Waynesboro MSA G = Dover MSA H = East Stroudsburg MSA I = Erie MSA J = Gettysburg MSA K = Harrisburg-Carlisle MSA L = Johnstown MSA M = Lancaster MSA N = Lebanon MSA O = Montgomery-Bucks-Chester County MD P = Newark Metro Division Q* = New York-New Jersey-White Plains MD R = Ocean City MSA S = Philadelphia-Delaware County MD T = Pittsburgh MSA Source: Calculations from BLS data via Haver Analytics. U = Reading MSA V* = Salisbury MSA W = Scranton-Wilkes-Barre-Hazelton MSA X = State College MSA Y = Trenton MSA Z = Vineland-Bridgeton MSA AA = Williamsport MSA AB* = Wilmington Metro Division AC = York-Hanover MSA AD* = Youngstown-Warren MSA * Also includes counties not shown on map.
23 ANNUAL EMPLOYMENT GROWTH BY SECTOR U.S., PA, and Montgomery-Bucks-Chester County MD Total Total Private Mining, Logging & Construction Manufacturing Trade, Trans & Utilities Information Financial Prof & Bus Services Education & Health Services Leisure & Hospitality Government -2% 0% 2% 4% 6% US PA Montgomery-Bucks-Chester County MD Source: Calculations from BLS via Haver Analytics. Last month included: Aug 2017
24 U.S., PA, AND LOCAL UNEMPLOYMENT RATES Monthly, seasonally adjusted (most recent value labeled) Percent (seasonally adjusted) 9% 6% 3% 4.9 % 4.4 % 3.9 % 0% US PA Montgomery-Bucks-Chester Jan 2008 Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Source: BLS via Haver Analytics Last month plotted: US and PA (Aug 2017): MSA (July 2017)
25 JOB OPENINGS AND LABOR TURNOVER SURVEY United States, Seasonally Adjusted Job Openings, Hires, and Separations (Seasonally Adjusted) 5% 4% 4.0 % 3.8 % 3% 2% 2.2 % 1% 1.2 % 0% Openings Hires Quits Layoffs Jan 2005 Jan 2010 Jan 2015 Source: BLS via Haver Analytics Months plotted: Jan Jul 2017
26 Skills mismatch in the labor market
27 MANUFACTURING BUSINESS OUTLOOK SURVEY March 2017, Special Questions Section Has your firm experienced any significant labor shortages or mismatch between labor skill requirements and the labor supply? May 2014 (%) March 2017 (%) Labor shortages 32.9 Skills mismatch Job vacancies remaining more than 3 months Source: Federal Reserve Bank of Philadelphia
28 BEVERIDGE CURVE Based on BLS' JOLTS, United States (seasonally adjusted) Job Openings Rate 4.0% Dec Dec 2007 (Pre-Recession) Jan Jun 2009 (Recession) Jul Present (Post-Recession) 3.5% 3.0% 2.5% 2.0% 4% 6% 8% 10% Unemployment Rate Source: BLS via Haver Analytics Months plotted: Dec Jul 2017
29 TOP CONTRIBUTORS BY SECTOR Sector contribution of decline in job filling rate, vs Sector (United States) Contribution Professional and Business Services 22.37% Retail Trade 15.55% Accommodation and Food Services 14.65% Health Care and Social Assistance 12.50% Construction 11.48% Source: Calculations using data from the BLS. Monthly data for 2017 include up to July
30 Housing conditions update
31 YEAR-OVER-YEAR STATE HOME PRICE GROWTH Core Logic Index, 3-month moving average (nominal) Source: Calculations from Core Logic Last month included: Jul 2017
32 REO ACTIVITY As a share of all active loans (most recent and last year s values labeled) Percentage of active loans (Seasonally Adjusted): most recent and last year's observation labeled 1.5% US PA Montgomery-Bucks-Chester 1.0% 0.9 % 0.5% 0.6 % 0.5 % 0.8 % 0.5 % 0.4 % 0.0% Source: McDash-HMDA via RADAR Months plotted: Jan Jul 2017 Jan 2000 Jan 2005 Jan 2010 Jan 2015
33 Inflation and monetary policy update
34 U.S. PCE INFLATION Year-over-year (seasonally adjusted) Year-over-year percent change (seasonally adjusted) 4% 3% 2% 1% 1.4 % 2.0 % 1.4 % 0% -1% -2% PCE PCE Core FOMC Target Jan 2000 Jan 2005 Jan 2010 Jan 2015 Source: BEA via Haver Analytics Months plotted: Jan Jul 2017
35 MARKET-IMPLIED PROBABILITY OF A RATE HIKE Based on CME Fed Funds Futures Contracts (as of Sep. 21, 2017) Probability 70% Nov Dec 60% 63.8 % 50% 40% 30% 20% 10% 0% 2.8 % Source: Bloomberg Days plotted: Jun. 14, Sep. 21, 2017 Shading represents FOMC meeting dates. Jul 2017 Aug 2017 Sep 2017
36 SUMMARY Forecast for GDP growth remains optimistic due to strong growth in consumption, around 2% throughout the year Employment growth continues to be slow but steady in the nation and in PA, with service-providing sectors being the key drivers Recent slowness in the labor market could be due to skills mismatch, which is causing the labor market to be inefficient Home price growth will likely be slower than the national average in the near-term in PA with larger REO volumes to clear The pace of inflation will be the key for upcoming monetary policy decisions
37 Questions? Ryo Tashiro Economic and Public Outreach Associate Request a Fed Speaker:
38 ADDITIONAL SLIDES
39 GDP GROWTH BY SECTOR OVER LAST 8 QUARTERS Black lines indicate historical averages from 1980:Q1 to 2017:Q2 Annualized quarterly growth (SAAR) 10% 5% 4.1% 5.3% 5.8% 2.6% 2.9% 1.7% 0% -5% Real GDP Consumption Investment Exports Imports Government Source: BEA via Haver Analytics Last quarter included: 2017:Q2 (second estimate) Black lines indicate sector averages from 1980:Q1 to 2017:Q2
40 CONSUMPTION GROWTH OVER LAST 4 QUARTERS Black lines indicate historical averages from 1980:Q1 to 2017:Q2 Annualized quarterly growth (SAAR) 10% 8% 6% 5.9% 4% 2% 2.9% 3.4% 2.3% 2.8% 0% Consumption Goods Durable Goods Source: BEA via Haver Analytics Last quarter included: 2017:Q2 (second estimate) Black lines indicate sector averages from 1980:Q1 to 2017:Q2 Non- Durable Goods Services
41 CONSUMER CONFIDENCE INDEXES University of Michigan and Conference Board Index (U Mich: 66Q1 = 100, Conference Board: 1985=100) Univ of Michigan Conference Board CB Mid-Atlantic Jan 2000 Jan 2005 Jan 2010 Jan 2015 Source: University of Michigan and Conference Board via Haver Analytics Months plotted: Jan 2000 to Sep 2017
42 INVESTMENT GROWTH OVER LAST 4 QUARTERS Black lines indicate historical averages from 1980:Q1 to 2017:Q2 Annualized quarterly growth (SAAR) 15% 10% 5% 0% 4.1% 4.0% 1.1% 5.1% 6.2% 2.5% -5% Investment Non- Residential Structures Equipment Intellectual Property Residential Source: BEA via Haver Analytics Last quarter included: 2017:Q2 (second estimate) Black lines indicate sector averages from 1980:Q1 to 2017:Q2
43 EXPORTS AND IMPORTS GROWTH OVER LAST 4 QUARTERS Black lines indicate historical averages from 1980:Q1 to 2017:Q2 Annualized quarterly growth (SAAR) 10% 5% 5.3% 5.4% 5.6% 5.8% 6.1% 5.2% 0% -5% Exports Goods (X) Services (X) Imports Goods (M) Services (M) Source: BEA via Haver Analytics Last quarter included: 2017:Q2 (second estimate) Black lines indicate sector averages from 1980:Q1 to 2017:Q2
44 GOVERNMENT GROWTH OVER LAST 4 QUARTERS Black lines indicate historical averages from 1980:Q1 to 2017:Q2 Annualized quarterly growth (SAAR) 6% 4% 2% 1.7% 1.8% 1.7% 2.6% 1.6% 0% -2% -4% Government Federal Defense Non- Defense State and Local Source: BEA via Haver Analytics Last quarter included: 2017:Q2 (second estimate) Black lines indicate sector averages from 1980:Q1 to 2017:Q2
45 REAL GDP GROWTH IN SELECTED AREAS Annualized quarterly growth Real Q/Q Annualized Growth Rate 20% 10% 0% 6.7 % 3.7 % 3.0 % 2.3 % 2.4 % -10% US (2017:Q2) Euro Area (2017:Q1) Canada (2017:Q1) Mexico (2017:Q2) China (2017:Q2) Jan 2000 Jan 2005 Jan 2010 Jan 2015 Sources: BEA, International Financial Statistics, and China's National Bureau of Statistics via Haver Analytics
46 TRADE-WEIGHTED U.S. DOLLAR INDEXES (Nominal, not seasonally adjusted) Trade-Weighted Indexes (January 1997 = 100) Major Broad Jan 2000 Jan 2005 Jan 2010 Jan 2015 Source: Federal Reserve Board via Haver Analytics Months plotted: Jan Aug 2017
47 GROWTH IN AVERAGE HOURLY EARNINGS Year-over-year percentage change, total private Percent change in average hourly earnings (seasonally adjusted) 4% 3% 2.5 % 2% 1% 0% Total Private Source: Calculations from BLS Months plotted: Mar 2007 to Aug 2017 Jan 2008 Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018
48 FRB ATLANTA WAGE TRACKER From the Current Population Survey (3-month moving average) Year-over-year percentage change 6% 5% 4% 3% 3.5 % 3.4 % 2% 1% 0% Overall Prime Age (25-54) Jan 2000 Jan 2005 Jan 2010 Jan 2015 Source: FRB Atlanta via Haver Analytics Months plotted: Jan 2000 to Aug 2017
49 YOY EMPLOYMENT GROWTH BY SECTOR U.S., PA, and Philadelphia-Delaware MD Total Total Private Mining, Logging & Construction Manufacturing Trade, Trans & Utilities Information Financial Prof & Bus Services Education & Health Services Leisure & Hospitality Government -4% -2% 0% 2% 4% 6% 8% US PA Philadelphia-Delaware MD Source: Calculations from BLS via Haver Analytics. Last month included: Aug 2017
50 TRI-STATE METRO AREA UNEMPLOYMENT RATE Year-over-year percentage change (3-month moving average) A = Allentown-Bethlehem-Easton MSA B = Altoona MSA C = Atlantic City-Hammonton MSA D = Bloomsburg-Berwick MSA E = Camden Metro Division F = Chambersburg-Waynesboro MSA G = Dover MSA H = East Stroudsburg MSA I = Erie MSA J = Gettysburg MSA K = Harrisburg-Carlisle MSA L = Johnstown MSA M = Lancaster MSA N = Lebanon MSA O = Montgomery-Bucks-Chester County MD P = Newark Metro Division Q* = New York-New Jersey-White Plains MD R = Ocean City MSA S = Philadelphia-Delaware County MD T = Pittsburgh MSA Source: Calculations from BLS data via Haver Analytics. U = Reading MSA V* = Salisbury MSA W = Scranton-Wilkes-Barre-Hazelton MSA X = State College MSA Y = Trenton MSA Z = Vineland-Bridgeton MSA AA = Williamsport MSA AB* = Wilmington Metro Division AC = York-Hanover MSA AD* = Youngstown-Warren MSA * Also includes counties not shown on map.
51 U.S., PA, AND PHILADELPHIA MD UNEMPLOYMENT RATES Monthly, seasonally adjusted (most recent value labeled) Percent (seasonally adjusted) 9% 6% 5.5 % 4.9 % 4.4 % 3% 0% US PA Philadelphia Jan 2008 Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Source: BLS via Haver Analytics Last month plotted: US and PA (Aug 2017): MSA (July 2017)
52 U.S. UNEMPLOYMENT RATE Monthly, seasonally adjusted (most recent and last year's values labeled) Percent (seasonally adjusted) 16% 12% 9.7 % 8% 8.6 % 4% 4.9 % 4.4 % 0% U3 U6 Jan 2000 Jan 2005 Jan 2010 Jan 2015 Source: BLS via Haver Analytics Months plotted: Jan 2000 to Aug 2017 Dotted lines indicate average from
53 INITIAL CLAIMS FOR UNEMPLOYMENT INSURANCE Weekly Average, seasonally adjusted (most recent and max values labeled) Thousands (seasonally adjusted) Initial Claims for Unemployment Insurance Jan 2000 Jan 2005 Jan 2010 Jan 2015 Source: Department of Labor via Haver Analytics Months plotted: Jan 2000 to Aug 2017
54 PART-TIME EMPLOYMENT DUE TO THE ECONOMY Monthly, seasonally adjusted (most recent and max values labeled) Thousands of people (seasonally adjusted) , , Employed part-time due to the economy Jan 2000 Jan 2005 Jan 2010 Jan 2015 Source: BLS via Haver Analytics Months plotted: Jan 2000 to Aug 2017
55 U.S. AND PA LABOR FORCE PARTICIPATION RATES Monthly, seasonally adjusted (most recent and max values labeled) Percent (seasonally adjusted) 68% 67.3 % 66% 65.3 % 64% 62% 62.9 % 62.7 % 60% 58% US PA Source: BLS via Haver Analytics Last month plotted: Aug 2017 Jan 1980 Jan 1990 Jan 2000 Jan 2010
56 JOB FILLING RATE All Sectors, Seasonally Adjusted (from JOLTS data) Hires/Openings Ratio (Seasonally Adjusted) All Sectors Jan 2005 Jan 2010 Jan 2015 Source: BLS via Haver Analytics Months plotted: Jan Aug 2017
57 JOB OPENINGS AND LABOR TURNOVER SURVEY Educational and Health Services Sector, Seasonally Adjusted Job Openings and Hires (Seasonally Adjusted) 8% 6% 4.8 % 4% 2.9 % 2% 0% Openings Hires Jan 2005 Jan 2010 Jan 2015 Source: BLS via Haver Analytics Months plotted: Jan Jul 2017
58 JOB OPENINGS AND LABOR TURNOVER SURVEY Durable Manufacturing Sector, Seasonally Adjusted Job Openings and Hires (Seasonally Adjusted) 8% 6% 4% 2.6 % 2% 2.5 % 0% Openings Hires Jan 2005 Jan 2010 Jan 2015 Source: BLS via Haver Analytics Months plotted: Jan Jul 2017
59 YEAR-OVER-YEAR MONTHLY U.S. HOME PRICE GROWTH Case-Shiller and Core Logic Indexes, seasonally adjusted Percent (seasonally adjusted) 16% 12% 8% 4% 6.5 % 5.7 % 0% -4% -8% -12% -16% -20% Case-Shiller Core Logic Jan 2000 Jan 2005 Jan 2010 Jan 2015 Source: Standard & Poors and Core Logic via Haver Analytics Months plotted: Jan 2000 to Jul 2017 Dotted lines indicate average from
60 TRI-STATE AREA HOME PRICE GROWTH Year-over-year, Core Logic index (3-month moving average) Source: Calculations from Core Logic data. Last month included: Jul 2017
61 FORECLOSURE ACTIVITY As a share of all active loans (most recent and last year s values labeled) Percentage of active loans (Seasonally Adjusted): most recent and last year's observation labeled 4% US PA Montgomery-Bucks-Chester 3% 2% 1.3 % 1.2 % 1% 1.0 % 0.9 % 0.9 % 0.8 % 0% Jan 2000 Jan 2005 Jan 2010 Jan 2015 Source: McDash-HMDA via RADAR Months plotted: Jan Jul 2017
62 FORECLOSURE ACTIVITY As a share of all active loans (most recent and last year s values labeled) 5% Percentage of active loans (Seasonally Adjusted): most recent and last year's observation labeled 4% 3% 2% 1.8 % 1.6 % 1% 1.3 % 1.2 % 1.0 % 0.9 % 0% US PA Philadelphia-Delaware Source: McDash-HMDA via RADAR Months plotted: Jan Jul 2017 Jan 2000 Jan 2005 Jan 2010 Jan 2015
63 REO ACTIVITY As a share of all active loans (most recent and last year s values labeled) Percentage of active loans (Seasonally Adjusted): most recent and last year's observation labeled 1.5% 1.0% 1.1 % 0.9 % 0.6 % 1.0 % 0.8 % 0.5% 0.5 % 0.0% US PA Philadelphia-Delaware Source: McDash-HMDA via RADAR Months plotted: Jan Jul 2017 Jan 2000 Jan 2005 Jan 2010 Jan 2015
64 FEDERAL FUNDS RATE DOT PLOT COMPARISON June 2017 vs September 2017 Percent Jun 2017 Projections Sep 2017 Projections Source: FOMC Projections, June 2017 and September 2017
65 ASSET SIDE OF THE FED'S BALANCE SHEET Weekly dates plotted: Jan. 3, 2007 to Sep. 13, 2017 Trillions of dollars $5 $4 $3 $2 $1 $0 Treasury Securities Agency Securities Loans Other Assets Jan 2008 Jan 2010 Jan 2012 Jan 2014 Jan 2016 Jan 2018 Source: Board of Governors via Haver Analytics Weeks plotted: Jan. 3, Sep. 13, 2017
66 SELECTED INTEREST RATES Most recent values are labeled Percent 8% 6% 4% 3.4 % 2% 2.2 % 1.2 % 1.0 % 0% 3Mo T-bill Fed Funds Rate 10Yr Treasury AAA Corporate Bond Jan 2000 Jan 2005 Jan 2010 Jan 2015 Source: FRB BOG and Moody's via Haver Analytics Months plotted: Jan Aug 2017
67 AVERAGE WEEKLY OIL PRICES (PER BARREL) West Texas Intermediate (WTI) and Brent spot prices (seasonally adjusted) Dollars per barrel (weekly average, seasonally adjusted) $140 $120 $100 $80 $60 $40 $53.61 $46.86 $20 WTI Brent Jan 2005 Jan 2010 Jan 2015 Source: Energy Information Administration via Haver Analytics Weeks plotted: Jan. 7, Sep. 15, 2017
National and Regional Economic Update
National and Regional Economic Update Greater Northeast Philadelphia Chamber of Commerce July 12, 2016 Gary A. Wagner, Ph.D.* FEDERAL RESERVE BANK OF PHILADELPHIA * The views expressed today are my own
More informationNational and Regional Economic Update
National and Regional Economic Update Philadelphia Chapter of the Financial Planning Association May 11, 2016 Gary A. Wagner, Ph.D.* FEDERAL RESERVE BANK OF PHILADELPHIA * The views expressed today are
More information71 st Annual Field Meeting
71 st Annual Field Meeting Delaware FEDERAL RESERVE BANK OF PHILADELPHIA Welcome Speakers: Keith Morales Cybersecurity John Munera Banking Trends and Supervisory Update Elif Sen Economic Outlook Lunch
More information71 st Annual Field Meeting
71 st Annual Field Meeting Williamsport FEDERAL RESERVE BANK OF PHILADELPHIA Banking Trends and Supervisory Update William Spaniel Senior Vice President and Lending Officer Overview Third District Banking
More information71 st Annual Field Meeting
71 st Annual Field Meeting Hershey FEDERAL RESERVE BANK OF PHILADELPHIA Banking Trends and Supervisory Update William Spaniel Senior Vice President and Lending Officer Overview Third District Banking Conditions
More informationEconomic Conditions and Outlook
Economic Conditions and Outlook Directors College Monroeville October 4, 18 Alexander Gilchrist Regional Economist Division of insurance and Research Disclaimer The views expressed in this presentation
More informationThe Economic Outlook
The Economic Outlook Loretta J. Mester* Executive Vice President and Director of Research 8 th Annual Temple University Fox School of Business Leadership and Professional Development Seminar February 21,
More informationU.S. DEPARTMENT OF HUD 05/2016 STATE: PENNSYLVANIA HOUSING TRUST FUND PROGRAM RENTS
STATE: PENNSYLVANIA --------- 2016 HOUSING TRUST FUND PROGRAM RENTS --------------- Allentown-Bethlehem-Easton, PA-NJ MSA Allentown-Bethlehem-Easton, PA HMFA HOUSING TRUST FUND RENT 362 388 504 659 814
More information5.7% 5,895,200 13,778
PA MONTHLY WORKSTATS LABOR FORCE JOBS UNEMPLOYMENT COMPENSATION PA Monthly WorkStats presents the most up-to-date labor market highlights and happenings in the commonwealth. Information herein is produced
More informationReport on Economic and Financial Developments
Report on Economic and Financial Developments Loretta J. Mester Executive Vice President and Director of Research June 1, 1 *The views expressed here are those of the author and do not necessarily reflect
More informationReport on Economic and Financial Developments
Report on Economic and Financial Developments Loretta J. Mester Executive Vice President and Director of Research July, 1 *The views expressed here are those of the author and do not necessarily reflect
More informationWORKFORCE INFORMATION NEWS RELEASE
651 Boas Street Room 220 Harrisburg, PA 17121 www.paworkstats.state.pa.us WORKFORCE INFORMATION NEWS RELEASE EMBARGOED 12:01 A.M. WEDNESDAY, DECEMBER 29, 2010 CONTACT: WILLIAM SHOLLY INDUSTRY & BUSINESS
More informationNational Economic Indicators. May 7, 2018
National Economic Indicators May 7, 18 Table of Contents GDP Release Date Latest Period Page Table: Real Gross Domestic Product Apr-7-18 8:31 Q1-18 Real Gross Domestic Product Apr-7-18 8:31 Q1-18 5 Decomposition
More information4.6% 5,976,00 77,720
PA MONTHLY WORKSTATS LABOR FORCE JOBS UNEMPLOYMENT COMPENSATION PA Monthly WorkStats presents the most up-to-date labor market highlights and happenings in the commonwealth. Information herein is produced
More information4.8% 6,005,900 60,000
PA MONTHLY WORKSTATS LABOR FORCE JOBS UNEMPLOYMENT COMPENSATION PA Monthly WorkStats presents the most up-to-date labor market highlights and happenings in the commonwealth. Information herein is produced
More informationEmerging Trends in the U.S. and Colorado Economies
Emerging Trends in the U.S. and Colorado Economies Sam Chapman Associate Economist Federal Reserve Bank of Kansas City Denver Branch The views expressed are those of the presenter and do not necessarily
More information4.7% 5,994,700 99,110
PA MONTHLY WORKSTATS LABOR FORCE JOBS UNEMPLOYMENT COMPENSATION PA Monthly WorkStats presents the most up-to-date labor market highlights and happenings in the commonwealth. Information herein is produced
More informationWORKFORCE INFORMATION NEWS RELEASE
651 Boas Street Room 220 Harrisburg, PA 17121 www.paworkstats.state.pa.us WORKFORCE INFORMATION NEWS RELEASE A-B-E UNEMPLOYMENT RATE ROSE TO 8.4% IN MAY EMBARGOED 12:01 A.M. TUESDAY, JUNE 28, 2011 CONTACT:
More informationNational Economic Indicators. December 11, 2017
National Economic Indicators December 11, 17 Table of Contents GDP Release Date Latest Period Page Table: Real Gross Domestic Product Nov-9-17 8:3 Q3-17 Real Gross Domestic Product Nov-9-17 8:3 Q3-17 5
More information4.8% 6,004,600 61,300
PA MONTHLY WORKSTATS LABOR FORCE JOBS UNEMPLOYMENT COMPENSATION PA Monthly WorkStats presents the most up-to-date labor market highlights and happenings in the commonwealth. Information herein is produced
More informationUS & PA Construction Spending, Labor and Materials Outlook
US & PA Construction Spending, Labor and Materials Outlook PCBE, Philadelphia September 7, 2018 Ken Simonson Chief Economist, AGC of America simonsonk@agc.org 2 Headline Forecast The US economy is strong
More information4.8% 5,987, ,100
PA MONTHLY WORKSTATS LABOR FORCE JOBS UNEMPLOYMENT COMPENSATION PA Monthly WorkStats presents the most up-to-date labor market highlights and happenings in the commonwealth. Information herein is produced
More information4.1% 6,035,600 39,690
PA MONTHLY WORKSTATS LABOR FORCE JOBS UNEMPLOYMENT COMPENSATION PA Monthly WorkStats presents the most up-to-date labor market highlights and happenings in the commonwealth. Information herein is produced
More informationEconomic Conditions and Outlook and Consumer Credit Conditions
Economic Conditions and Outlook and Consumer Credit Conditions NACM-CFDD Kansas City Kansas City, MO Kelly D. Edmiston Senior Economist Disclaimer This presentation reflects the views of the speaker and
More informationA View from the Fed: Slouching toward 2016
A View from the Fed: Slouching toward 2016 28 th Annual Economic Outlook Conference, University of Alabama Culverhouse College of Commerce Montgomery, AL January 14, 2016 The views expressed are those
More information4.5% 6,014,400 53,080
PA MONTHLY WORKSTATS LABOR FORCE JOBS UNEMPLOYMENT COMPENSATION PA Monthly WorkStats presents the most up-to-date labor market highlights and happenings in the commonwealth. Information herein is produced
More information4.6% 5,852,000 23,941
PA MONTHLY WORKSTATS LABOR FORCE JOBS UNEMPLOYMENT COMPENSATION PA Monthly WorkStats presents the most up-to-date labor market highlights and happenings in the commonwealth. Information herein is produced
More informationThe Outlook for the U.S. Economy National Association of Credit Union Supervisory and Auditing Committees Annual Conference and Expo Louisville, KY
The Outlook for the U.S. Economy National Association of Credit Union Supervisory and Auditing Committees Annual Conference and Expo Louisville, KY Kevin L. Kliesen Business Economist and Research Officer
More informationMoving On Up Today s Economic Environment
Moving On Up Today s Economic Environment Presented by PFM Asset Management LLC Gray Lepley, Senior Analyst, Portfolio Strategies November 8, 2018 PFM 1 U.S. ECONOMY Today s Agenda MONETARY POLICY GEOPOLITICAL
More informationEconomic Outlook June Economic Policy Division
Economic Outlook June 215 Economic Policy Division U.S. GDP Actual and Potential Quarterly, Q1 198 to Q4 215 Real GDP Trillion 29 Dollars Log Scale $18. Forecast $15. $12.5 Actual Potential $9. $6.5 198
More informationStructure and Function of the Federal Reserve System
1/17/17 Economic Outlook Cortney Cowley Economist Federal Reserve Bank of Kansas City Omaha Branch October, 17 The views expressed are those of the author and do not necessarily reflect the opinions of
More informationEmerging Trends in the U.S. and Colorado Economies
Emerging Trends in the U.S. and Colorado Economies Alison Felix Economist and Branch Executive Federal Reserve Bank of Kansas City Denver Branch The views expressed are those of the presenter and do not
More informationEconomic Outlook June Economic Policy Division
Economic Outlook June 215 Economic Policy Division U.S. GDP Actual and Potential Quarterly, Q1 198 to Q4 215 Real GDP Trillion 29 Dollars Log Scale $18. Forecast $15. $12.5 Actual Potential $9. $6.5 198
More informationMBA Forecast Commentary Joel Kan
MBA Forecast Commentary Joel Kan Economy & Labor Markets Strong Enough, First Rate Hike Expected in December MBA Economic and Mortgage Finance Commentary: November 2015 This month s outlook largely mirrors
More informationThe U.S. Economic Outlook
The U.S. Economic Outlook Gering/Scottsbluff Economic Forum August 23, 216 George A. Kahn Vice President and Economist The views expressed are those of the author and do not necessarily reflect the opinions
More informationDecline in Economic Activity Larger Than Advance GDP Estimate February 27, 2009
Northern Trust Global Economic Research 5 South LaSalle Chicago, Illinois 663 northerntrust.com Asha G. Bangalore agb3@ntrs.com Decline in Economic Activity Larger Than Advance GDP Estimate February 27,
More informationThe Federal Reserve, Monetary Policy, and Economic Indicators
The Federal Reserve, Monetary Policy, and Economic Indicators Megan Williams Associate Economist Federal Reserve Bank of Kansas City, Oklahoma City Branch The Creation of the Fed The first two national
More informationEconomic Conditions and Outlook for the U.S., Kansas, and the Midwest
Economic Conditions and Outlook for the U.S., Kansas, and the Midwest Midwest Regional Public Finance Conference Wichita, KS April 25, 2014 Kelly D. Edmiston Federal Reserve Bank of Kansas City Overview
More informationU.S. & Missouri Economic Outlook
U.S. & Missouri Economic Outlook Missouri Government Finance Officers Association Jason Brown Economist The views expressed are those of the presenter and do not necessarily reflect the positions of the
More informationEconomic Conditions and Outlook for the U.S. and Greater Kansas City Area
Economic Conditions and Outlook for the U.S. and Greater Kansas City Area Mid-America Planned Giving Council Kansas City, MO January 9, 215 Kelly D. Edmiston Federal Reserve Bank of Kansas City Economic
More informationThe U.S. Macro Outlook: Reasons for Optimism and Concern MARISA DI NATALE, DIRECTOR
The U.S. Macro Outlook: Reasons for Optimism and Concern MARISA DI NATALE, DIRECTOR Fiscal Headwinds Are Set to Fade Contribution to real GDP growth, % 5 4 3 2 1 0-1 -2-3 -4-5 -6 Private economy Fiscal
More informationWill the Recovery Ever End? Certified Financial Planners
Will the Recovery Ever End? Certified Financial Planners Place cover image here Richard Wobbekind Senior Economist and Associate Dean for Business and Government Relations January 25, 219 Attention: This
More informationECONOMIC AND FINANCIAL HIGHLIGHTS
ECONOMIC AND FINANCIAL HIGHLIGHTS LABOR MARKET Contributions to Change in Nonfarm Payrolls 2 Unemployment and Labor Force Participation Rate 3 MANUFACTURING ISM Manufacturing Index 4 CONSUMERS Light Vehicle
More informationThe U.S. Economy s Current Performance and Outlook
Delta Associates Spring Seminar The U.S. and Washington Area Economies: Current Performance and Outlook: 24-29 Stephen S. Fuller, Ph.D. Dwight Schar Faculty Chair and University Professor Director, Center
More informationThere has been considerable discussion of the possibility
NationalEconomicTrends February Housing and the R Word There has been considerable discussion of the possibility that ongoing troubles in the housing market could push the economy into recession 1 But
More informationU.S. Economic Update and Outlook. Laurel Graefe, REIN Director Federal Reserve Bank of Atlanta October 2, 2013
1 U.S. Economic Update and Outlook Laurel Graefe, REIN Director Federal Reserve Bank of Atlanta October 2, 213 Following the deepest recession since the 193s, the economic recovery is well under way, though
More informationThe Federal Reserve has set the target range for the federal
NationalEconomicTrends October Monetary Policy Stance: The View from Consumption Spending The Federal Reserve has set the target range for the federal funds at to 5 percent and intends to keep this near
More informationReal GDP Growth Compounded annual rates of change. Consumer Price Index Percent change
National Economic Trends Real Gross Domestic Product (DISCONTINUED) Real GDP Growth Compounded annual rates of change 6 5 Compounded Annual Rate of Change 4 3 2 1-1 Q1 214 Q1 215 Q1 216 Q1 217 195 196
More informationSingle-family home sales and construction are not expected to regain 2005 peaks
Single-family home sales and construction are not expected to regain 25 peaks Millions of units 8. 7. 6. 5. Housing starts (right axis) 4. Home sales (left axis) 3. 2. 1. 198 1985 199 1995 2 25 21 215
More informationEmerging Trends in the Regional Economy
Emerging Trends in the Regional Economy Alison Felix Economist & Branch Executive Federal Reserve Bank of Kansas City Denver Branch The views expressed are those of the presenter and do not necessarily
More informationThe President s Report to the Board of Directors
The President s Report to the Board of Directors April 4, 214 Current Economic Developments - April 4, 214 Data released since your last Directors' meeting show the economy was a bit stronger in the fourth
More informationECONversations. Economic and Policy Briefing Webcast Dave Altig, Research Director November 19, :00 p.m. ET
ECONversations Economic and Policy Briefing Webcast Dave Altig, Research Director November 9, 4 : p.m. ET Questions for Dave: events@atl.frb.org Technical issues: james.dooley@atl.frb.org Information received
More informationOne Policymaker s Wait for Better Economic Data
EMBARGOED UNTIL MONDAY, JUNE 1, 2015 AT 9:00 A.M. EASTERN TIME OR UPON DELIVERY One Policymaker s Wait for Better Economic Data Eric S. Rosengren President & CEO Federal Reserve Bank of Boston June 1,
More informationLending and Foreclosure in NJ
Lending and Foreclosure in NJ Kathe Newman, Associate Professor and Director with Ben Teresa, Mirabel Chen, Michael D Orazio Research Associates Ralph W. Voorhees Center for Civic Engagement Urban Planning
More informationU.S. & District Economic Outlook
U.S. & District Economic Outlook Nebraska LEAD Program February 5, 2015 Jason Brown Senior Economist The views expressed are those of the presenter and do not necessarily reflect the positions of the Federal
More informationWorcester Business Journal Economic Forecast Breakfast February 13, Jeff Fuhrer, EVP and Senior Policy Advisor Federal Reserve Bank of Boston
Worcester Business Journal Economic Forecast Breakfast February 3, 25 Jeff Fuhrer, EVP and Senior Policy Advisor Federal Reserve Bank of Boston X Not this lady X Not this guy 2 26:Jan 26:Sep 27: 28:Jan
More informationPlunging Oil Prices: Impact on the U.S. and State Economies
Plunging Oil Prices: Impact on the U.S. and State Economies Mine Yücel Senior Vice President and Director of Research November 17, 216 Nominal price, weekly 16 14 Oil and gas prices volatile 12 1 Oil price
More informationNVTC. Economic Performance and Outlook
3//11 NVTC The U.S. and Washington Area Economic Performance and Outlook John McClain, AICP, Senior Fellow and Deputy Director, Center for Regional Analysis School of Public Policy, George Mason University
More informationOutlook for the United States*
I N T E R N A T I O N A L M O N E T A R Y F U N D Outlook for the United States* Stephan Danninger Division Chief International Monetary Fund * Based on the IMF Staff Report for the United States (see
More informationWith the tax filing season in full swing, these summary
NationalEconomicTrends March Income Taxes: Who Pays and How Much? With the tax filing season in full swing, these summary figures may provide some perspective on the issue of who is paying federal individual
More informationThe relatively slow growth of employment has
NationalEconomicTrends August Please go to researchstlouisfedorg/publications/net for important information about your subscription Labor s Share The relatively slow growth of employment has been a prominent
More informationECONOMIC AND FINANCIAL HIGHLIGHTS
ECONOMIC AND FINANCIAL HIGHLIGHTS FEDERAL RESERVE BALANCE SHEET Assets and Liabilities 2-3 REAL ESTATE Construction Spending 4 CoreLogic Home Price Index 5 Mortgage Rates and Applications 6-7 CONSUMER
More informationThe U.S. Economic Outlook
The U.S. Economic Outlook November, Economic Club of Sheboygan George A. Kahn Vice President and Economist Federal Reserve Bank of Kansas City Outlook themes Growth has rebounded following a soft first
More informationThe Federal Reserve, Monetary Policy, and Economic Indicators
The Federal Reserve, Monetary Policy, and Economic Indicators Megan Williams Associate Economist Federal Reserve Bank of Kansas City, Oklahoma City Branch The Creation of the Fed The first two national
More informationThe effect that housing has on the economy has received
NationalEconomicTrends May Boom & Gloom in Housing Markets: The Sequel The effect that housing has on the economy has received increased attention in recent years first for the recordhigh boom in house
More informationAn Update on Economic Conditions. January 5, 2010
An Update on Economic Conditions Raymond Owens January 5, 21 Real Gross Domestic Product 8 7 6 5 4 Percent change from previous quarter at annual rate 3 Q3 2.2% 2 1-1 -2-3 -4-5 -6-7 21 22 23 24 25 26 27
More informationIndividual households and firms, as well as local, state,
NationalEconomicTrends February 9 How Accu Are Forecasts in a Recession? Individual households and firms, as well as local, state, and federal governments, make economic decisions based on their view of
More informationWashington Area Economy: Performance and Outlook
Washington Area Economy: Performance and Outlook Center for Regional Analysis Schar School of Policy and Government George Mason University August 22, 218 6. U.S. Gross Domestic Product Quarterly Change
More informationU.S. Economic Outlook and Monetary Policy
U.S. Economic Outlook and Monetary Policy March 26, 21 Craig S. Hakkio Senior Vice President and Special Advisor on Economic Policy Overview U.S. growth remains strong, though temporary factors are likely
More informationHouse prices in the United States were 14.1 percent
NationalEconomicTrends August How Much Have US House Prices Fallen? House prices in the United States were 11 percent lower in the first quarter of than they were a year earlier, according to a widely
More informationBBVA Research U.S. Economic Outlook August 2018 / 1. U.S. Economic Outlook August 2018
BBVA Research U.S. Economic Outlook August 2018 / 1 U.S. Economic Outlook August 2018 Economic Outlook Incoming data consistent with baseline of high growth and inflation in 2018 & 2019 There was no change
More informationNonfarm Payroll Employment
PRESIDENT'S REPORT TO THE BOARD OF DIRECTORS, FEDERAL RESERVE BANK OF BOSTON Current Economic Developments - June 10, 2004 Data released since your last Directors' meeting show the economy continues to
More informationThe Washington Region s Housing Market and Outlook
The Washington Region s Housing Market and Outlook John McClain, AICP Senior Fellow and Deputy Director, Center for Regional Analysis, School of Public Policy George Mason University January 14, 2009 U.S.
More informationEconomic Update. Air & Waste Management Association. Georgia Chapter. Michael Chriszt Federal Reserve Bank of Atlanta October 4, 2013
1 Economic Update Air & Waste Management Association Georgia Chapter The views expressed here are not necessarily those of the FOMC, the Federal Reserve Bank of Atlanta, or the Federal Reserve System.
More informationEconomic and Housing Outlook
Economic and Housing Outlook Volusia Building Industry Association July 18, 218 Robert Dietz, Ph.D. NAHB Chief Economist Housing Market Growing; Single-Family Lags Tax reform changes Macroeconomics post-tax
More information2018 Texas Economic Outlook: Firing on All Cylinders
218 Texas Economic Outlook: Firing on All Cylinders Keith Phillips Assistant Vice President and Senior Economist 4/5/218 The views expressed in this presentation are strictly those of the presenter and
More informationTrends and Transitory Shocks
EMBARGOED UNTIL WEDNESDAY, SEPTEMBER 27 AT 7:00 P.M.; OR UPON DELIVERY Trends and Transitory Shocks Eric S. Rosengren President & CEO Federal Reserve Bank of Boston September 27, 2017 The Money Marketeers
More informationNationalEconomicTrends
NationalEconomicTrends January 00 Stag-nations Economic growth in the United States has slowed substantially since the days of rapid expansion during the mid to late 1990s. According to preliminary estimates,
More informationMBA Economic and Mortgage Finance Outlook
MBA Economic and Mortgage Finance Outlook January 19, 2016 Presented by Joel Kan Mortgage Bankers Association Summary of the MBA Outlook 2015 2016 2017 2018 2019 GDP Growth 1.9% 1.8% 2.0% 1.8% 1.8% Inflation
More informationNational and Regional Update Charlotte Chapter of American Association of Individual Investors, Sept. 14, Rick Kaglic Senior Regional Economist
National and Regional Update Charlotte Chapter of American Association of Individual Investors, Sept. 14, 2013 Rick Kaglic Senior Regional Economist A Quick Disclaimer 2 Real Gross Domestic Product 2012
More informationThe National Bureau of Economic Research (NBER)
NationalEconomicTrends July Using Stock Market Liquidity to Forecast Recessions The National Bureau of Economic Research (NBER) Business Cycle Dating Committee (the committee that dates U.S. recessions)
More informationMany analysts have argued that a housing boom preceded
NationalEconomicTrends September The Financial Services Sector: Boom and Recession Many analysts have argued that a housing boom preceded the recent financial crisis and economic slowdown Innovations in
More informationU.S. and Regional Economic Conditions and Outlook
U.S. and Regional Economic Conditions and Outlook CFA Society of Nebraska Omaha, NE January 14, 215 Kelly D. Edmiston Federal Reserve Bank of Kansas City Outline Structure and Role of the Federal Reserve
More informationECONOMIC & REVENUE UPDATE
January 11, 2018 Summary summary The U.S. labor market gained 148,000 net new jobs in December. U.S. housing starts in November 2017 were 12.9% above their year-ago level. Consumer confidence declined
More information- US LEI & CEI - Yardeni Research, Inc.
- US LEI & CEI - 11 1 Figure. LEADING & COINCIDENT ECONOMIC INDICATORS (=, ratio scale) 11 1 Leading Economic Indicators recovering rapidly. Coincident Economic Indicators recovering slowly. 9 9 9 9 7
More informationUinta Basin Energy Summit Economic Overview September 10, 2015
Uinta Basin Energy Summit Economic Overview September 10, 2015 Overview National Economic Conditions Utah Economic Conditions Utah is One of the Fastest Growing CA States in the Country Percent Change
More informationThe U.S. and Washington Area Economic Performance and Outlook
/8/ The U.S. and Washington Area Economic Performance and Outlook Center for Regional Analysis School of Public Policy George Mason University November 8, Recession Recovery Patterns of GDP Past Four Recessions
More informationKeith Phillips, Sr. Economist and Advisor
The Outlook for the Texas Economy Keith Phillips, Sr. Economist and Advisor National Economic Overview Growth in US Economy Positive But Sluggish Market working to heal itself asset prices falling, inflation
More informationHAND/CNHED Joint Meeting. Washington Area Economy and Housing Market Trends and Outlook
1/26/12 HAND/CNHED Joint Meeting Washington Area Economy and Housing ket Trends and Outlook Lisa A. Sturtevant, PhD Center for Regional Analysis School of Public Policy George Mason University October
More informationEconomic and Housing Outlook
Economic and Housing Outlook Macdonald Realty Monday, January 23, 212 Helmut Pastrick Chief Economist Central 1 Credit Union Outline: European developments U.S. economy and forecasts Canadian economic
More informationCommunity Depository Institutions Advisory Council Meeting. Federal Reserve Bank of New York 33 Liberty Street, New York, New York October 14, 2016
Community Depository Institutions Advisory Council Meeting Federal Reserve Bank of New York 33 Liberty Street, New York, New York October 14, 216 Agenda 11: am Presentations to the Council Members: o National
More informationOutlook for the Texas Economy. Luis Bernardo Torres Ruiz, Ph.D. August 26, 2016
Outlook for the Texas Economy Luis Bernardo Torres Ruiz, Ph.D. August 26, 2016 Research Economist Texas Society of Architects Contents 1. U.S. Economic Outlook 2. Texas Economic Outlook 3. Challenges and
More informationThe Economic & Financial Outlook
The Economic & Financial Outlook Beata Caranci SVP & Chief Economist TD Economics September 217 Key Themes Synchronized global economic acceleration has put monetary policy normalization in focus Canada
More informationCredit, Housing, Commodities and the Economy Chartered Financial Analysts Institute Annual Conference
Credit, Housing, Commodities and the Economy Chartered Financial Analysts Institute Annual Conference May 13, 2008 Janet L. Yellen President and CEO Federal Reserve Bank of San Francisco Overview Financial
More informationData current as of: August 5, ,200,000 1,000, , , , , , , , , , , ,000
Forecast Version: Spring 216 Economic Indicators The Bureau of Labor Statistics reported a total nonfarm payroll employment increase of 287, in June with the unemployment rate rising.2% to 4.9%. The jobs
More informationEconomic Update. Platts Aluminum Symposium 2014 Ft. Lauderdale, Florida January 13, Chris Oakley Federal Reserve Bank of Atlanta January 2014
1 Economic Update Platts Aluminum Symposium 2014 Ft. Lauderdale, Florida January 13, 2014 Chris Oakley Federal Reserve Bank of Atlanta January 2014 2 Summary of the Economic Environment 1. Economic growth
More informationStruggling to Hit Escape Velocity MARISA DI NATALE, DIRECTOR
Struggling to Hit Escape Velocity MARISA DI NATALE, DIRECTOR Households and Businesses Deleverage Change in household and nonfinancial corporate debt, $ bil Household liabilities have fallen by $900 billion
More informationKey Labor Market and Economic Metrics
Key Labor Market and Economic Metrics May Update Incorporates Data Available on May 27 th, 2016 This reference is the result of a collaboration between the Bureau of Labor Market Information and Strategic
More informationEconomic Outlook and Monetary Policy
Economic Outlook and Monetary Policy Enterprise Risk Management Symposium Chicago, IL September 3, 214 Spencer Krane Senior Vice President Federal Reserve Bank of Chicago The views expressed here are my
More informationThe Economic & Financial Outlook
The Economic & Financial Outlook James Marple Director & Senior Economist TD Economics May 3, 2018 Global Economies Break Pattern Of Serial Disappointment 4.0 World GDP, Year/Year % Change 3.9 3.8 3.7
More information