The FED Said Federal Reserve Bank of Atlanta Summary of Economic Activity Sixth District business contacts reported that economic activity continued to advance at a moderate pace over the reporting period and the outlook among contacts remained positive. Labor markets continued to tighten, and some firms noted relocating certain segments of their operations to gain […] Read more
The FED Said Overall US Economic Activity Economic activity continued to expand in late January and February, with ten Districts reporting slight-to-moderate growth, and Philadelphia and St. Louis reporting flat economic conditions. About half of the Districts noted that the government shutdown had led to slower economic activity in some sectors including retail, auto […] Read more
The FED Said Last summer, we reported that one fifth of firms in the July Survey of Business Uncertainty (SBU) were reassessing capital expenditure plans in light of then-recent tariff hikes and retaliation concerns. Roughly 6 percent had already cut or deferred capital spending as a result of tariff worries. Since then, tariff hikes and trade policy […] Read more
The FED Said Report on Nonemployer Firms Based on the 2017 Small Business Credit Survey Nonemployer firms1 are important to the United States’ economy, comprising 81% of all small businesses,2 employing 17% of the American workforce,3 and generating $1.2 trillion in annual sales.4 While previous research has explored why individuals seek self-employment5 or what conditions drive nonemployers to become employer […] Read more
The FED Said Fading housing affordability remains a challenge for residential builders who already face headwinds from labor cost increases and higher material costs. U.S. home sales have staged a strong comeback in the aftermath of the recession, but many builders are not expecting this year’s sales to be as healthy as they were in […] Read more
The FED Said Although millennials have been known to be the most charitable age group compared to earlier generations, they are, ironically, holding their money very close when it comes to taking financial risks. According to a recent study from the Federal Reserve, millennials are less well off than previous generations of young adults. They […] Read more
The FED Said Many people are quitting their current job. According to data from the Job Openings, Layoffs, and Turnover Survey (JOLTS) from the U.S. Bureau of Labor Statistics, workers are voluntarily leaving their current workplace (for reasons other than retirement or internal company transfers) at rates not seen since the late 1990s. A high […] Read more
The FED Said Beige Book – January 16, 2019 Overall US Economic Activity Economic activity increased in most of the U.S., with eight of twelve Federal Reserve Districts reporting modest to moderate growth. Nonauto retail sales grew modestly, as several Districts reported more holiday traffic compared with last year. Auto sales were flat on balance. […] Read more
The FED Said Amid a largely positive Beige Book report on economic conditions in the Southeast, some small businesses report particular challenges competing with larger companies for a dwindling pool of available workers. Across the board, businesses continued to report pressure to increase wages for low-skill, hourly jobs, notably in the hospitality and retail industries. That’s good […] Read more
The FED Said Some of the most important forces that have molded Miami, economically and otherwise, emanated from outside Florida and even the United States. The evolution that largely produced today’s south Florida metropolis began 60 years ago. When Communists seized power in Cuba in 1959, a wave of exiles fled north, beginning a continuing […] Read more
The FED Said As concerns about widening gaps in income and wealth permeate economic policy discussion, the Federal Reserve Bank of Atlanta assembled some of the field’s leading thinkers to explore the roots of inequality from various perspectives. When considering a topic as complex as inequality, economists and policymakers advance numerous questions such as the […] Read more
The FED Said In recent years, housing has become less affordable for low- and moderate-income residents across the United States. New Federal Reserve research provides insight into how this trend is playing out across the Southeast. Andrew Dumont, a senior community development analyst at the Federal Reserve Board of Governors in Washington, DC, examined the […] Read more
The FED Said Federal Reserve Bank of Atlanta Summary of Economic Activity Reports from Sixth District business contacts described economic conditions as expanding at a moderate pace since the previous report. The majority of contacts are optimistic and expect the pace to continue for the remainder of the year. The labor market remained tight amid […] Read more
The FED Said In October 2017, Amazon ignited a frenzy among economic developers. When the company announced plans to open a second North American headquarters and staff it with 50,000 high-paying jobs, more than 200 cities, counties, and states made formal bids. Many jurisdictions promised publicly financed incentives—packages of tax breaks, free land, grants, and […] Read more
The FED Said Raj Chetty sees himself as a product of the American dream. An immigrant himself, Chetty moved here with his parents from India when he was 9 years old. The Harvard economist is probably the nation’s leading authority on the erosion of kids’ chances to do better than their parents. His groundbreaking research […] Read more