FF Blog: Introducing Calendar Live Data

Ladies and gentlemen, A good ten years ago, on June 14, 2013, economics professors who were formerly employed by the Deutsche Bundesbank founded the Stable Money Action Group. At ...

The U.S. current-account deficit, which reflects the combined balances on trade in goods and services and income flows between U.S. residents and residents of other countries, ...

Thank you, President Mester. It is really a pleasure to be here in Cleveland to join you for this Fed Listens event. I'm especially pleased to be a part of today's discussions about how the economy continues to evolve in the post-pandemic environment.1 I find that I learn the most valuable information about economic conditions from those who are actually on the ground and working directly in the economy, so I am really looking forward to hearing from today's panelists to learn from their experiences and perspectives. As those of you here today know, the Federal Open Market Committee (FOMC) met last week to discuss the economy and expectations for economic activity. I'll begin the discussion with my views on the evolution of the U.S. economy since the onset of the pandemic and on the implications of those developments for the FOMC's congressionally mandated goals of maximum employment and stable prices. After the initial phases of the pandemic and the lockdowns and forced closures of most businesses, we saw strengthening economic activity accompanied by unacceptably high and persistent inflation. Over the past several years, as economic activity has continued to normalize, one consistent strength has been the resilience of the labor market. Jobs have grown at a solid pace, wages have increased for many workers, and we've seen continued low unemployment. On the other side of our mandate, price stability, the U.S. economy experienced the most significant inflation in 40 years, reaching a peak of over 9 percent last year. The FOMC has made progress in lowering inflation, but de tweet at 9:57am: FED'S BOWMAN: FURTHER POLICY RATE INCREASES WILL BE REQUIRED TO ACHIEVE SUFFICIENTLY RESTRICTIVE LEVEL AND CONTROL INFLATION. tweet at 9:58am: Fed's Bowman: - We will look for inflation on a consistent downward path in deciding appropriate policy steps at coming meetings -A level of inflation is still unacceptably high - I want to see signs inflation is on a consistent downward path.

The Conference Board Leading Economic Index® (LEI) for the U.S. declined by 0.7 percent in May 2023 to 106.7 (2016=100), following a decline of 0.6 percent in April. The LEI is ...