At a glance, workforce development may seem outside the Federal Reserve System’s typical purview. But it’s not. A Cleveland Fed analyst offers 10 reasons why the Federal Reserve is committed to workforce development.
A falling unemployment rate, the addition of more than 13,000 jobs, and an increase in per capita GDP are three encouraging factors for this metro area’s economy.
Read More
With the introduction of bitcoin, the world got not just a new currency, it also got evidence that a decentralized control structure could work in practice for institutional governance. This Commentary discusses the advantages and disadvantages of centralized and decentralized control structures by examining the features of the bitcoin payment system. We show that while the decentralized nature of the Bitcoin network "democratizes" payments, it is not obvious that the approach increases the equity or efficiency of markets or that the costs of the decentralized control structure won’t outweigh the benefits in the long run.
Read More
