The FED Said A recent macroblog post used Atlanta Fed Wage Growth Tracker data to observe that the hourly wage of the lowest-paid workers has rebounded in recent years after declining for a decade. The chart below depicts this finding, showing the median hourly wage of the lowest-paid 25 percent of workers in the Tracker sample relative to the median […] Read more
The FED Said On November 25, Fed chair Jay Powell gave a speech titled “Building on the Gains from the Long Expansion,” in which he observed that Recent years’ data paint a hopeful picture of more people in their prime years in the workforce and wages rising for low- and middle-income workers. In making this […] Read more
Federal Reserve Bank of Atlanta The FED Said Summary of Economic Activity Sixth District business contacts indicated that economic activity expanded modestly since the previous report, and the outlook among contacts remained positive. Tightness in the labor market continued to constrain growth in many sectors. Contacts noted that wage pressures continued to increase for lower-skilled […] Read more
The FED Said Overall Economic Activity Economic activity expanded modestly from October through mid-November, similar to the pace of growth seen over the prior reporting period. Most Districts reported stable to moderately growing consumer spending, and increases in auto sales and tourism were seen across several Districts. In manufacturing, more Districts reported an expansion in […] Read more
The FED Said You’ve heard of “the 1 percent.” Veronika Penciakova has been pondering the economic significance of the 0.1 percent. That figure does not refer to the ultra-wealthy. Rather, it represents the tiny fraction of U.S. companies that are financed by venture capital. Despite their small number—some 8,000 firms received venture capital in 2018—those […] Read more
The FED Said Overall US Economic Activity The U.S. economy expanded at a slight to modest pace since the prior report as business activity varied across the country. Reports from Districts representing states in the southern and western U.S. generally were more upbeat than Districts representing the Midwest and Great Plains. Household spending was […] Read more
The FED Said Tao Zha is executive director of the Federal Reserve Bank of Atlanta’s Center for Quantitative Economic Research. He is a U.S. citizen who was born in China, and his research interests include macroeconomics, econometrics, and the Chinese economy. Economy Matters staff writer Karen Jacobs recently spoke with Zha about China. Karen Jacobs: The trade dispute between […] Read more
The FED Said Despite a generally robust economy, skills training is critical amid long-term and cyclical labor force challenges For years, Goodwill of North Georgia ran a successful program training unemployed and underemployed people in highway construction. That made sense: during the 1980s and ’90s, metropolitan Atlanta added about 1,000 lane-miles of freeways. When highway […] Read more
The FED Said The word cycle contains the notion of regularity. Yet one of the most important cycles of all, the business cycle, is anything but predictable. Plainly put, the business cycle is how economists refer to the inevitable ups—expansions— and downs—contractions, or recessions—of economic activity over time. But determining exactly when a cycle ends and […] Read more
The FED Said Federal Reserve Bank of Atlanta Summary of Economic Activity Sixth District business contacts indicated that economic activity softened slightly during the reporting period. Many firms noted persistent challenges with filling positions. Annual wage increases remained between 3-4 percent, on average, and businesses across the District continued to report increased nonlabor input costs. […] Read more
The FED Said The Federal Reserve Bank of Atlanta’s Beige Book survey of regional economic conditions reported that economic activity in the Southeast softened slightly in recent weeks. Published September 4, the report says business contacts reported slowing activity during late July and August in sectors including manufacturing, hospitality, and residential real estate. Although sales remained steady, […] Read more
The FED Said An unfavorable Community Reinvestment Act (CRA) rating from the Federal Reserve Bank of Atlanta led to improved operations at BBVA (formerly BBVA Compass Bank). The year was 2013, and the Atlanta Fed was evaluating the Alabama-based bank’s performance with the CRA, a 1977 law intended to encourage banks to meet the credit needs […] Read more
The FED Said The Atlanta Fed’s Wage Growth Tracker has shown an uptick during the past several months. The 12-month average reached 3.7 percent in June, up from 3.2 percent last year. But in 2016, it depicted acceleration that eventually reversed course. So is this recent increase real or illusory? Although using a 12-month average quiets much […] Read more
The FED Said Ransomware attacks have only continued since I addressed the problem in a recent post, and they’ve continued to target municipal and state agencies. Riviera Beach (May) and Lake City (June), both in Florida, were successfully attacked. Lake City paid a bitcoin ransom of approximately $470,000 while Riviera Beach paid about $600,000, also in […] Read more
The FED Said Federal Reserve Bank of Atlanta Summary of Economic Activity On balance, reports from Sixth District business contacts indicated that economic activity continued to expand at a modest pace from mid-May through June. Although contacts shared concerns over uncertainty related to tariffs, the overall outlook among businesses remains positive as most expect continued […] Read more