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“On September 13, 2012, the Federal Open Market Committee (FOMC) directed the Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York to begin purchasing additional agency MBS at a pace of $40 billion per month. The FOMC also directed the Desk to maintain its existing policy of reinvesting principal payments …
Despite Gains, Many See Roadblocks Ahead: “A new cohort of young women—members of the so-called Millennial generation—has been entering the workforce for the past decade. At the starting line of their careers, they are better educated than their mothers and grandmothers had been—or than their young male counterparts are now. But when they look ahead, they …
Fall 2013 Fiscal Survey of States – National Association of State Budget Officers: “State fiscal conditions are modestly improving in fiscal 2014 with spending and revenues projected to rise above fiscal 2013 levels. Signs of fiscal distress continue to subside, and most states expect revenue and spending growth in fiscal 2014. Tax collections outperformed projections in fiscal …
“Each month, the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury produce a monthly scorecard on the health of the nation’s housing market. The scorecard incorporates key housing market indicators and highlights the impact of the Administration’s unprecedented housing recovery efforts, including assistance to homeowners through the Federal …
Creating the Conditions for Growth by Christine Whitehead and Tony Travers with Kathleen Scanlon and Melissa Fernández, LSE London, London School Of Economics. October 2013 • “House building activity is beginning to pick up, especially in London and the South East. However, the period since the financial crisis has been disastrous for investment, worsening the longer-term shortages of both market …
Sherman & Sterling: “On December 10 2013, the final regulation implementing the Volcker Rule was adopted by the five US federal bank regulatory agencies. This comes over two years after the publication of the proposed regulation. The text below illustrates the differences between the final and proposed texts.” [Andrew Young]
By Judy Martel • Bankrate.com: “As Americans continue to climb out of the worst economic downturn since the Great Depression, many experts are taking note of a widening gap between the “haves” and the “have-nots.” Federal income data over the past 20 years show a growing divide in income among all age groups. Bankrate’s analysis of the data …
“Five federal agencies on Tuesday issued final rules developed jointly to implement section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Volcker Rule”). The final rules prohibit insured depository institutions and companies affiliated with insured depository institutions (“banking entities”) from engaging in short-term proprietary trading of certain securities, derivatives, commodity futures and …
“Nearly one billion people alive today – one in every six human beings – are slum dwellers, and that number is likely to double in the next thirty years, according to UN-HABITAT’s new publication – The Challenge of Slums: Global Report on Human Settlements 2003. Unprecedented urban growth in the face of increasing poverty and social …
Evolving Markets and Needs, Joint Center for Housing Studies, Harvard University, December 9, 2013. “Rental housing has always provided a broad choice of homes for people at all phases of life. The recent economic turmoil underscored the many advantages of renting and raised the barriers to homeownership, sparking a surge in demand that has buoyed rental …
Federal Reserve Statistical Release – Z.1 Financial Accounts of the United States. Flow of Funds, Balance Sheets, and Integrated Macroeconomic Accounts, Third Quarter 2013 “Household net worth – the difference between the values of households’ assets and liabilities – was $77.3 trillion at the end of the third quarter of this year, about $1.9 trillion more than at the end of the …
Fiscal Policy Effects in a Heterogeneous-Agent Overlapping-Generations Economy With an Aging Population: Working Paper 2013-07, by Shinichi Nishiyama “Among the models that CBO uses to analyze the economic effects of changes in federal fiscal policy is a life-cycle growth model with overlapping generations of heterogeneous households. In this paper, we extend a similar dynamic model …
