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President Mester discusses monetary policy and the economic outlook with Fox Business

01.02.15

January 2, 2015—Cleveland Fed President Loretta J. Mester said a number of different indicators show the economy is on firm footing, with progress on employment and downward pressures on inflation likely to be transitory. Mester said incoming data and the outlook will guide the Fed in setting monetary policy.

Part 1: The outlook for interest rates and the economy.

Part 2: Job growth and financial markets.

Headlines

  • EC 201908 Population Migration and Generations in Urban Neighborhoods

    Stephan D. Whitaker

    The number of people living in urban neighborhoods has been rising in recent decades. This Commentary investigates changes in the number, ages, and financial status of those who have been moving into and out of urban neighborhoods, using data from the Federal Reserve Bank of New York/Equifax Consumer Credit Panel. I find that since 2000, the increase in urban populations is the result of young adults migrating into urban neighborhoods and senior citizens aging in place. Urban populations have also become more educated and well to do. While declining urban neighborhoods may still outnumber growing urban neighborhoods within some regions, urban leaders there can work toward population or tax base growth knowing that consumer tastes and national trends are favorable to those goals. Read More

  • 12 facts about temporary urbanists

    Stephan D. Whitaker

    Urban areas seem to be enjoying a renaissance of sorts due in part to the many young professionals who have moved into central neighborhoods since the 2000s. Many of these young professionals are thought to move back out after they have started families, but the details of these migration patterns are not well-known. I analyze data from the Federal Reserve Bank of New York/Equifax Consumer Credit Panel to answer 12 questions about these temporary urbanists—those who choose to move into an urban neighborhood and spend part of their early adulthood there. Read More

  • Pittsburgh—Job Market Strengthens

    Mekael Teshome Sarah Mattson

    Adding enough jobs to accommodate a larger labor force is just one way the Pittsburgh metro area’s economy strengthened: Both GDP per capita and income per capita rose, too. Read More

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