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Monthly New Residential Sales, February 2024
Beginning with the April 2024 New Residential Sales release on May 23, 2024, the sales price range groups in Table 2, "New Privately‐Owned Houses Sold, by Sales Price" will be updated to better reflect the current distribution of new home prices. New price groupings will also be introduced in our time series file "New Houses Sold and For Sale by Price Range". Example tables containing the new price groups are provided on our website. Data between January 2020 and March 2024 will be re‐calculated incorporating any additional data and revisions received since initial publication and re‐released in the new price ... (full story)
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post: MORE CHI FED'S GOOLSBEE Q&A/YAHOO: AM A 'LOOSE SUBSCRIBER' TO THE TAYLOR RULE BUT CAN'T BE 'OVERLY ENTHUSIASTIC' ABOUT ANY MECHANICAL FORMULA #Goolsbee #FederalReserve post: MORE CHI FED'S GOOLSBEE Q&A/YAHOO: 'TEPID' MIGHT BE A GOOD DESCRIPTION OF CONSUMER; BUT LARGER THAN EXPECTED IMMIGRATION MAY HAVE BOOSTED 2023 ECONOMY #Goolsbee #FederalReserve post: MORE CHI FED'S GOOLSBEE Q&A/YAHOO: PACE OF BALANCE SHEET RUNOFF IS A DIFFERENT QUESTION FROM EVENTUAL SIZE; THOUGHT POWELL'S COMMENTS 'SPOT ON' #Goolsbee #FederalReserve post: MORE CHI FED'S GOOLSBEE Q&A/YAHOO: IMPORTANT TO KEEP RATE POLICE AND BALANCE SHEET POLICY SEPARATE; BALANCE SHEET POLICY IS NOT RATE POLICY; ENDS Q&A #Goolsbee #FederalReserve
Last Friday saw significant movement in the USD/CNH pair after the People's Bank of China raised its USD/CNY fixing by the largest amount since the start of the year, allowing for ...
post: FED'S GOOLSBEE: WE'RE IN A BIT OF A MURKY PERIOD WITH INFLATION. post: FED'S GOOLSBEE: IT DOESN'T FEEL LIKE THE STORY FUNDAMENTALLY CHANGED. post: FED'S GOOLSBEE: WE NEED TO SEE PROGRESS IN INFLATION COMING DOWN. post: FED'S GOOLSBEE: THE MAIN PUZZLE WITH INFLATION IS HOUSING. post: FED'S GOOLSBEE: THREE CUTS IN 2024 WAS IN LINE WITH MY THINKING.
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Last week’s BoE meeting saw a distinct, if rather expected dovish shift. This was added to by Govenor Bailey’s interview with the Financial Times. EURGBP has climbed to 0.86 and ...
Thank you, Jason, for your kind introduction. I appreciate the opportunity to return to Harvard and teach the Ec10 class today. When I taught at Harvard, only the most gifted instructors and teaching fellows were allowed to teach and appear before students in this course. It seems today that standards may have slipped, but I am nevertheless honored to be here. I will start by saying what I said at the beginning of every course I taught here and in my entire career as an academic economist. "It is a great time to be an economist!" Economics provides powerful tools for understanding the forces that affect your lives, especially in times of upheaval and change. This is another reason I am delighted to be part of this course that covers a broad range of economic thinking. Today, I will focus my talk on three topics: the Federal Reserve's dual mandate goals for monetary policy, recent indicators of progress toward meeting those goals, and what we call the evolving "balance of risks," which means how the probabilities of missing one of those goals, compared to the other, change over time.1 My main message is that, following a period of unusually high inflation and rapid monetary-policy tightening, inflation has fallen considerably while the labor market has remained strong. As a result of these welcome developments, the risks to achieving our employment and inflation goals are moving into better balance. Nonetheless, fully restoring price stability may take a cautious approach to easing monetary policy over time. Let me add some background here. Congress has given the Federal Reserve's monetary policymakers a mandate and the independence with which to pursue it. The Fed's modern statutory mandate, as described in the 1977 amendment to the Federal Reserve Act, is to promote maximum employment and stable prices.2 These goals are commonly referre post: FED'S COOK: CUTTING TOO SOON COULD RISK INFLATION BECOMING ENTRENCHED. post: #FED GOVERNOR LISA COOK REMARKS IN TEXT OF SPEECH AT HARVARD - BBG *COOK: CUTTING TOO SOON COULD RISK INFLATION BECOMING ENTRENCHED *COOK: CUTTING TOO LATE COULD UNNECESSARILY HARM ECONOMY *COOK: RISKS TO INFLATION, JOB GOALS MOVING INTO BETTER BALANCE *COOK: 'CAREFUL' POLICY…
Federal Reserve Bank of Atlanta President Raphael Bostic reiterated his expectation for one interest-rate cut this year, adding the central bank can afford to be patient as long ...
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- Posted: Mar 25, 2024 10:00am
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