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Louis Fed

Recession: The global economy is much more fragile than the last time around

Olav Dirkmaat | Delinquency Rates Rising: Is A New Crisis Approaching? The delinquency rate on loans is key in understanding banking. It answers one question: what percentage of loans is overdue for payment? The delinquency rate is by far the most useful indicator for “credit stress.” It seems, however, as if delinquency no longer

Economics and the Pretense of Knowledge

David S. D’Amato,  Last week, Federal Reserve Board Chairman Janet Yellen was awarded the Radcliffe Medal at Harvard’s Radcliffe Institute for Advanced Study. At a lunch in Yellen’s honor, Lizabeth Cohen, dean of the institute, praised the Fed chair’s “steadfast commitment to robust growth” and the way the she “steers our economy,” guided by the philosophy of her Yale

Millennials Mired in Wealth Gap as Older Americans Gain: Economy

The damage inflicted on U.S. households by the collapse of the housing market and recession wasn’t evenly distributed. Just ask Jason and Jessica Alinen. The couple, who live near Seattle, declared bankruptcy in 2011 when the value of the house they then owned plunged to less than $200,000 from the $349,000 they paid for it

What's Strangling Job-Creation

Recessions were never fun, but we used to bounce back from them fairly quickly.  The phrase “bounce back” actually applied.  They were more like injuries in our youth: we could “walk them off.”  Healing was natural, speedy, and expected. But now it seems like every minor injury sends us to the hospital; we take months