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Category Archives: Economy

The Unequal Mortgage Market Is No Coincidence

Michela Zonta, Center for American Progress: “Persistent racial and ethnic inequality in the mortgage market is not a coincidence. Nearly 50 years after the adoption of the Fair Housing Act, newly released federal data indicate that people of color continued to lose ground in the homeownership market in 2013. In particular, black and Hispanic households continued toContinue Reading

IG – Lessons Learned From the Federal Reserve’s Supervision of JPMorgan Chase

The Board Should Enhance Its Supervisory Processes as a Result of Lessons Learned From the Federal Reserve’s Supervision of JPMorgan Chase & Company’s Chief Investment Office “Our report contains four findings. First, as part of its continuous monitoring activities at JPMC, FRB New York effectively identified risks related to the CIO’s trading activities and plannedContinue Reading

Enhancing Financial Stability by Improving Culture in the Financial Services Industry

William C. Dudley, President and Chief Executive Officer – Remarks at the Workshop on Reforming Culture and Behavior in the Financial Services Industry, Federal Reserve Bank of New York, New York City, October 20, 2014. As prepared for delivery: “As I noted earlier at the start of today’s workshop, improving culture in the financial services industry isContinue Reading

Medicare Beneficiaries Paid Nearly Half of the Costs for Outpatient Services at Critical Access Hospitals

HHS IG Report (OEI-05-12-00085), October 7, 2014 “The Critical Access Hospital (CAH) certification was created to ensure that rural beneficiaries would have access to hospital services. Medicare reimburses CAHs at 101 percent of their “reasonable costs,” rather than at the predetermined rates set by the Outpatient Prospective Payment System (OPPS). The system that Medicare uses toContinue Reading

Government Debt Management at the Zero Lower Bound

This paper re-examines government debt management policy in light of the U.S. experience with extraordinary fiscal and monetary policies since 2008. Brookings – Robin Greenwood, Samuel G. Hanson, Joshua S. Rudolph and Lawrence H. Summers: “We first document that the Treasury’s decision to lengthen the average maturity of the debt has partially offset the Federal Reserve’sContinue Reading

Payday Lending in America

“Pew’s Payday Lending in America series sheds light on the experience of borrowers. The research also details fundamental problems with payday loans, and suggests how policymakers can help solve these problems.” Includes the following resources: Payday Lending in America: Fraud and Abuse Online Payday Lending in America: Overview of Policy Recommendations Payday Lending in America:Continue Reading

Conflict Minerals and Resource Extraction: Dodd-Frank, SEC Regulations, and Legal Challenges

Conflict Minerals and Resource Extraction: Dodd-Frank, SEC Regulations, and Legal Challenges. Michael V. Seitzinger, Legislative Attorney; Kathleen Ann Ruane, Legislative Attorney. October 15, 2014. “Two sections of the Dodd-Frank Wall Street Reform and Protection Act (Dodd-Frank) require that the Securities and Exchange Commission (SEC or Commission) issue regulations to make public the involvement of U.S. companies in conflict minerals and inContinue Reading

Global Economic Prospects: Commodity Markets Outlook, October 2014

Baffes, John. 2014. Global Economic Prospects: Commodity Markets Outlook, October 2014. World Bank Group, Washington, DC. © World Bank. “Commodity prices are expected to remain weak for the remainder of 2014 and, perhaps through much of 2015. Crude oil has seen one of the sharpest declines, down more than 20 percent to $83/barrel (bbl) onContinue Reading

The Role of Interbank Relationships and Liquidity Needs

Craig, Ben R. and Fecht, Falko and Tumer-Alkan, Gunseli, The Role of Interbank Relationships and Liquidity Needs (October 17, 2014). FRB of Cleveland Policy Discussion Paper No. 14-21. Available at SSRN: http://ssrn.com/abstract=2511334 “In this paper, we focus on the interconnectedness of banks and the price they pay for liquidity. We assess how the concentration of creditContinue Reading

Returning to the Nest: Debt and Parental Co-Residence Among Young Adults

Dettling, Lisa J. and Hsu, Joanne W., Returning to the Nest: Debt and Parental Co-Residence Among Young Adults (September 2, 2014). FEDS Working Paper No. 2014-80. Available for download at SSRN: http://ssrn.com/abstract=2511411 “This paper examines the relationship between a young adults’ debt burden and the decision to co-reside with a parent. Using a quarterly panel ofContinue Reading

Female self-employment in the United States: an update to 2012

BLS Monthly Labor Review – October 2014: “This article uses data from the Current Population Survey to examine changes in the demographic and socioeconomic characteristics of self-employed women over the 1993–2012 period. The analysis suggests that these female workers, who represented about one-third of all self-employed individuals in 2012, have weathered recessions relatively well andContinue Reading

Risk Taking, Liquidity, and Shadow Banking: Curbing Excess While Promoting Growth

A Report by the IMF Monetary and Capital Markets Department on Market Developments and Issues, October 2014:  “The October 2014 Global Financial Stability Report (GFSR) finds that six years after the start of the crisis, the global economic recovery continues to rely heavily on accommodative monetary policies in advanced economies. Monetary accommodation remains critical in supportingContinue Reading