Businesses Are Using AI to Transform Work, Not Cut Jobs
Jaison R. Abel, Richard Deitz, Natalia Emanuel, and Nick Montalbano The ongoing advancement and adoption of artificial intelligence…
Has Broader Stock Market Participation Changed How Interest Rates Affect the Economy?
Juan M. Morelli Stock market participation in the U.S. has changed dramatically over the past four decades. In…
A Window into Bond Investors’ Uncertainty About R-Star
Guillaume Roussellet Monetary policymakers closely monitor the term structure of sovereign bond yields to uncover market participants’ beliefs…
Using AI to Let History Speak About Bank Runs
Sergio Correia, Stephan Luck, and Emil Verner Banking crises are commonly associated with bank runs and banking panics,…
Liquidity Fades as Treasuries Age
Alain Chaboud, Ellen Correia Golay, Michael J. Fleming, Yesol Huh, Frank M. Keane, and Or Shachar More than…
The Post-COVID Decline in the Labor Share
Richard Audoly, Miles Guerin, Srinidhi Narayanan, and Rachel Schuh The labor share of income in the U.S. is…
Food Insecurity and Consumer Pessimism
Gizem Kosar, Ishva Mehta, and Wilbert van der Klaauw Current discussions regarding a bifurcated U.S. economy highlight the…
Honey, Who Shrunk the U.S. Income Surplus?
Matthew Higgins and Thomas Klitgaard Foreign holdings of U.S. financial assets are immense, with official estimates putting their…
Same Shock, Different Roads? A K-Shaped Pattern at the Pump
Rajashri Chakrabarti, Thu Pham, Beck Pierce, and Maxim Pinkovskiy In March 2026, energy prices surged to a four-year…