Federal Reserve: Informal Review by the Federal Reserve Banks on Current Economic Conditions in their Districts
National Summary This report was prepared at the Federal Reserve Bank of Philadelphia based on information collected on or before May 22, 2017. This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal Reserve officials. Overall Economic Activity Most of the twelve Federal…
Federal Reserve: Board Issues Report on the Economic Well-Being of U.S. Households
Americans’ overall financial well-being in 2016 continued on a modest upward path, although the improvement was less pronounced for those with less education, according to the Federal Reserve Board’s latest Report on the Economic Well-Being of U.S. Households. The report, based on the Board’s fourth annual Survey of Household Economics and Decisionmaking conducted in October…
Federal Reserve: Are Central Cities Poor and Non-White?
By: Jenny Schuetz, Arturo Gonzalez, Jeff Larrimore, Ellen A. Merry, and Barbara J. Robles1 In the U.S., geography has long been viewed as a proxy for income and race. The terms central city or “inner city” are often used as a short-hand for poor and minority neighborhoods, particularly African-American, while suburban dwellers are assumed to be…
Federal Reserve: Where Do Banks Fit in the FinTech Stack?
Speech Governor Lael Brainard At the Northwestern Kellogg Public-Private Interface Conference on “New Developments in Consumer Finance: Research & Practice” We can learn a lot from the evolution of smartphones as we try to envisage where the fintech ecosystem–and banks’ role within it–might be heading in the future. Smartphones have ushered in an age when…
Federal Reserve: Accepting Applications for its Community Advisory Council
The Federal Reserve Board announced on Tuesday that it is accepting applications from individuals who wish to be considered for membership on the Community Advisory Council (CAC). Formed in 2015, the CAC advises the Board on issues affecting consumers and communities. The CAC is made up of a diverse group of experts and representatives of…
Federal Reserve: Payments Study Highlights Strong Trends in Card Use
Kansas City, Missouri, December 22, 2016 — From 2012 to 2015, credit and debit (including prepaid and non-prepaid) card payments continued to gain ground in the payments landscape, accounting for more than two-thirds of all core noncash payments in the United States, according to a Federal Reserve study of U.S. non-cash payments released today. Automated…
Federal Reserve: College Fed Challenge Winners Announced
Rutgers University won the 13th annual national College Fed Challenge on Thursday, a competition that encourages students to learn about the U.S. economy, monetary policymaking, and the role of the Federal Reserve System. The team, from New Brunswick, N.J., represented the New York Federal Reserve District and included Karn Dalal, Ali Haider Ismail, Andrew Lee,…
Federal Reserve: Changes Announced to Beige Book Beginning in 2017
The Federal Reserve on Wednesday announced changes that will begin in 2017 to its Beige Book publication. The modifications will standardize specific core topics included in each of the 12 Federal Reserve Bank District reports, provide a more consistent presentation of the national summary, and enhance the design of the publication. The national summary, along with each…