The FED Said That outcome would create an historical symmetry. Miami, after all, was born as what might now be called a transit-oriented development, or TOD. In the late 19th century, fewer than a million people lived in Florida, and Jacksonville was the fashionable destination for wealthy northerners. Railroad impresario Henry Flagler changed that by […] Read more
The FED Said “Nobody’s model does a very good job of how uncertainty and hits to confidence affect behavior,” says Deutsche Bank’s Peter Hooper in a recent Wall Street Journalarticle. Count us as sympathetic to his viewpoint. That’s one reason why a few of us at the Atlanta Fed created a national survey of firms in […] Read more
From the Harvard Business Review Today’s young professionals grew up in an age of mind-boggling technological change, seeing the growth of the internet, the invention of the smartphone, and the development of machine-learning systems. These advances all point toward the total automation of our lives, including the way we work and do business. It’s no […] Read more
The FED Said (Federal Reserve System) Developments in artificial intelligence (AI) and machine learning (ML) have drawn considerable attention from both the real and financial sides of the economy. The Atlanta Fed’s recent Financial Markets Conference, Machines Learning Finance: Will They Change the Game?, explored the implications of AI/ML for the financial system and public policy. […] Read more
The FED Said (Federal Reserve System) With U.S. unemployment down to levels not seen since 2000, job seekers are gaining the upper hand in the labor market as employers struggle to fill positions across skill levels. Such hiring difficulties are prompting some employers across the Southeast to raise pay. “We’ve been hearing that wage pressure […] Read more
The FED Said (Federal Reserve System) Overall US Economic Activity Economic activity continued to expand across the United States, with 10 of the 12 Federal Reserve Districts reporting moderate or modest growth. The outliers were the Dallas District, which reported strong growth driven in part by the energy sector, and the St. Louis District where […] Read more
The Fed Said The Federal Reserve Bank of Atlanta Across the Southeast, consumer spending is up, and companies continue to have trouble finding qualified workers. Those are some of the findings from the latest Beige Book of economic conditions. Most businesses expect increased activity in the second part of this year despite some uncertainty related to […] Read more
The FED Said (Federal Reserve Atlanta) Residential complexes going up near Atlanta transit stations promote pools, leash-free dog parks, and lifestyles “where urbanity meets savvy simplicity.” If these amenities don’t evoke the gritty utility often associated with public transportation, they’ve achieved their desired effect. The Metropolitan Atlanta Rapid Transit Authority (MARTA) is at the forefront […] Read more
The FED Said The new Beige Book covers some familiar themes, but also includes a few timely details that could portend future changes in certain economic sectors. Uncertainty and other effects of trade policy showed up among manufacturers and contacts in the transportation industry. Most manufacturing contacts reported increases in their costs, particularly for steel, […] Read more
The FED Said A folding placard near the Atlanta transit system’s Avondale Station makes a humble promise: “New Things Coming.” The new things are under construction—470 apartments, 34 condominiums, and street-level space for shops and restaurants. Despite the unassuming sign, this is not just another mixed-use development amid hundreds of similar projects across metropolitan Atlanta. […] Read more
The FED Said With U.S. unemployment down to levels not seen since 2000, job seekers are gaining the upper hand in the labor market as employers struggle to fill positions across skill levels. Such hiring difficulties are prompting some employers across the Southeast to raise pay. “We’ve been hearing that wage pressure is building among […] Read more
The Harvard Business Review by Marc Freedman Judson Manor is a gracious former 1920s luxury hotel near The Cleveland Clinic, Case Western University, and many of the museums and arts institutions in Cleveland, Ohio. Today it houses 120 highly educated retirees with an average age of 79 — and seven 20-something graduate students. Back in 2010, one […] Read more
The FED Said The Federal Reserve Bank of Atlanta A recent FEDS Notes article summarized some interesting findings from the Board of Governors’ 2017 Survey of Household Economics and Decisionmaking. One set of responses that caught my eye explored the connection between part-time employment and pay raises. The report estimates that about 70 percent of people working part-time did […] Read more