ECONOMY
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Why Are Credit Card Rates So High?
Itamar Drechsler, Hyeyoon Jung, Weiyu Peng, Dominik Supera, and Guanyu Zhou Credit cards play a crucial role in U.S. consumer…
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Interoperability of Blockchain Systems and the Future of Payments
Jon Durfee, Michael Junho Lee, Joseph Torregrossa, and Sarah Yu Wang In a previous post, we introduced a three-pillar framework for interoperability…
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The New York Fed DSGE Model Forecast—March 2025
Marco Del Negro, Ibrahima Diagne, Pranay Gundam, Donggyu Lee, and Brian Pacula This post presents an update of the economic…
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Global Trends in U.S. Inflation Dynamics
Ozge Akinci, Martin Almuzara, Silvia Miranda-Agrippino, Ramya Nallamotu, Argia Sbordone, Greg Simitian, and William Zeng A key feature of the…
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Supply and Demand Drivers of Global Inflation Trends
Ozge Akinci, Martin Almuzara, Silvia Miranda-Agrippino, Ramya Nallamotu, Argia Sbordone, Greg Simitian, and William Zeng Our previous post identified strong…
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Firms’ Inflation Expectations Have Picked Up
Jaison R. Abel, Richard Deitz, and Ben Hyman Editors note: Since this post was published, we clarified language in the…
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When the Household Pie Shrinks, Who Gets Their Slice?
Jacob Conway, Natalia Fischl-Lanzoni, and Matthew Plosser When households face budgetary constraints, they may encounter bills and debts that they…
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Comparing Apples to Apples: “Synthetic Real‑Time” Estimates of R‑Star
Sophia Cho and John C. Williams Estimates of the natural rate of interest, commonly called “r-star,” garner a great deal…
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Kartik Athreya on His First Year as Research Director of the New York Fed
A year has passed since Kartik Athreya became director of research at the New York Fed. To get some perspective…
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U.S. Imports from China Have Fallen by Less Than U.S. Data Indicate
Hunter L. Clark With new tariffs on China back in the headlines, this post seeks to offer some perspective on…
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