Looking at the federal funds rates coming from seven simple monetary policy rules and three economic forecasts -- based on data and forecasts available as of November 30, 2022 -- Federal Reserve Bank of Cleveland researchers find that the median federal funds rate across the policy rules and forecasts rises from 3.52 percent in 2022:Q4 to 4.29 percent in 2024:Q4.
New analysis of mortgage data in seven large urban counties in Ohio, Pennsylvania, and Kentucky finds that growth in home purchase originations was much stronger for Black borrowers than non-Black borrowers between 2018 and 2021. However, the Black homeownership rate remained far below the non-Black rate.
One in 10 small businesses with at least one employee suffered losses from a natural disaster in the prior year, according to a new fact sheet based on data from the Federal Reserve’s 2021 Small Business Credit Survey.
According to the popular narrative, the high worker quits rate during the recovery from the COVID-19 recession, sometimes called “the Great Resignation,” resulted from workers’ general dissatisfaction with their jobs and a desire for better work-life balance and other amenities.
Loretta J. Mester-President and Chief Executive Officer-Federal Reserve Bank of Cleveland- Markus’ Academy, Princeton Bendheim Center for Finance, Princeton University, Princeton, NJ (via videoconference) November 10, 2022, 12:30 p.m. EST
Loretta J. Mester, President and Chief Executive Officer, Federal Reserve Bank of Cleveland, Council for Economic Education’s “Economists on the Economy” virtual discussion, October 6, 2022, 6:30 p.m. EDT