Sara Millington |

Research Analyst


Sara Millington, Research Analyst

Sara Millington is a research analyst in the Research Department of the Federal Reserve Bank of Cleveland. Her primary interests include macroeconomics, monetary policy, and public finance.

Sara is a graduate of Millsaps College and holds a bachelor's degree in business and economics.

 

  • Fed Publications
Title Date Publication Author(s) Type

 

December, 2013 Sara Millington; Pedro S Amaral; Economic Trends
Abstract: Real GDP grew at an annualized rate of 3.6 percent in the third quarter of 2013 according to the Bureau of Economic Analysis’s second estimate—considerably above the advance estimate of 2.8 percent that was released in November. The slow recovery from the Great Recession is now a well-established fact and here we take a closer look GDP components.

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October, 2013 Sara Millington; Randal J Verbrugge; Economic Trends
Abstract: Each month, the Bureau of Labor Statistics (BLS) releases estimates of the Consumer Price Index (CPI) and the Producer Price Index (PPI). The government shutdown, which ended late on October 16, caused a delay in the release of these statistics and many of these statistics and data products that rely on them. But the shutdown will also affect the accuracy of these statistics for months to come. This article outlines the impact of the shutdown, particularly on the accuracy of the CPI.

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September, 2013 Sara Millington; Joseph G Haubrich; Economic Trends
Abstract: Expected inflation has moved up. Expectations for inflation have been increasing for the last four months. This trend has pushed expectations to the highest levels we have seen in the past two years, yet at only 1.86 percent, expected inflation remains well below the average rate we have experienced over the last seven years.

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August, 2013 Sara Millington; Kristle Romero Cortes; Economic Trends
Abstract: A number of indicators suggest that the banking industry continues to see improvement in overall economic stability. Two of the more significant indicators are loan-loss provisions and net charge-offs. Banks have recently been decreasing their loan-loss provisions, while net-charge offs have steadily declined since the crisis.

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August, 2013 Sara Millington; Bill Bednar; John B Carlson; Economic Trends
Abstract: The Fed has made no explicit changes to monetary policy actions since the beginning of the year. Still, interest rates have been steadily rising over the past few months. Statements by Fed policymakers may have something to do with the increase--which goes to show how important communications can be in carrying out monetary policy.

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June, 2013 Sara Millington; Pedro S Amaral; Economic Trends
Abstract: The Bureau of Economic Analysis estimates that the personal saving rate for the first quarter of 2013 was 2.3 percent—a five-year low, and a substantial drop from the fourth quarter of 2012, when it stood at 5.3 percent. Since many economists think a healthy household balance sheet is a necessary condition to fuel a stronger economic recovery, should we be worried about how low this estimate of the saving rate is?

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March, 2013 Sara Millington; Kristle Romero Cortes; Economic Trends
Abstract: Regulators require banks to maintain a certain level of capital. Those requirements are put into place to ensure that banks will have enough of a cushion to maintain their daily activities in the event of an unforeseen shock. Due to the nature of bank debt, regulators focus on bank capital—the difference between a bank’s assets and its liabilities—when they are overseeing the safety and soundness of individual banks and the banking system overall.

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March, 2013 Sara Millington; Pedro S Amaral; Economic Trends
Abstract: Real GDP grew at an annualized rate of 0.1 percent in the fourth quarter of 2012, according to the Bureau of Economic Analysis’s revised estimate. Although this revision may confer the important psychological effect of keeping a streak of 14 consecutive quarters with positive growth alive, the reality is that the U.S. economy stagnated in the last quarter of last year. The overall growth rate of real GDP hides a fair amount of heterogeneity across industries.

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December, 2012 Sara Millington; Pedro S Amaral; Margaret Jacobson; Economic Trends
Abstract: While the third-quarter’s real GDP growth rate of 2.7 percent was an improvement over the second quarter’s 1.3 percent, it may turn out to be the best in a lackluster year, as most forecasters are currently predicting that growth will slow down in the fourth quarter. The labor market has been front and center in the minds of economists as they have been evaluating growth prospects. The Federal Open Market Committee, the Fed’s monetary policymaking body, is no exception.

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December, 2012 Sara Millington; Kristle Romero Cortes; Economic Trends
Abstract: Currently, banks from 57 countries have offices in the United States. Up until the beginning of the financial crisis, the liability and asset holdings of these foreign bank offices had been increasing. But in 2008, their holdings fell by $357 billion (a seasonally adjusted annual decline of 28 percent). Following the crisis, liability and asset holdings returned to pre-crisis levels and surpassed them within two years. Most analysts think this resurgence reflects a continuous improvement of these banks’ balance sheets overall.

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