Federal Reserve Bank of Cleveland: http://www.clevelandfed.org

• Loans and Leases in Bank Credit
• Ben R Craig and Matthew Koepke
• Loans and leases in bank credit are an important measure of economic strength. They serve as an indicator of how quickly the general economy is growing and, more importantly, what areas of the economy are expanding. Loans and leases are recovering much more slowly during this recovery than they did in the previous two. But balances in commercial and industrial loans have grown faster. Read more
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• More Transparency, But Not a Crystal Ball
• John B Carlson and John Lindner
• On January 3, the Fed released the minutes from the December Federal Open Market Committee (FOMC) meeting and revealed that it will begin publishing the Committee’s interest rate projections. The goal of this action is to provide more transparency in the policymaking process. However, there are limitations to the information these types of projections provide. Examining the experiences of some foreign central banks illustrates what conclusions might and might not be drawn from the new data. Read more
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• Are Consumers More Eager to Borrow?
• Yuliya Demyanyk and Matthew Koepke
• Consumer credit serves as an important indicator as to where the economy is heading. Generally, consumers borrow more when they are more certain about their financial prospects and less when they are less certain. Consequently, changes in consumer credit may indicate how confident consumers are about the economy and their desire to consume in the future. Read more
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• Pass-Through and the Renminbi’s Appreciation
• Owen F Humpage and Margaret Jacobson
• Since mid-2010, the Chinese renminbi has steadily appreciated against the dollar. Many here hope that a more expensive renminbi will induce a proportional rise in the prices of Chinese goods and take some of the sting out of China’s competitive bite. They may, however, be disappointed. The relationship between exchange—rate changes and import prices is often loose—more like a swing dance than a tango. Read more
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More…

• Trends in Housing Prices per Square Foot   
• Consumption Taking Longer to Respond to Downturns in GDP   
• Some Improvement in the Labor Market   
• Short- and Long-term Inflation Expectations   
• Domestic Migration and its Impact on Ohio   
• Urban Growth and Decline: The Role of Population Density at the City Core   

• All Research content