In this note, we explore the link between indicators of financial imbalances and macroeconomic performance, focusing on the experience of the United States. In an accompanying note, The Relationship between Macroeconomic Overheating and Financial Vulnerability: A Narrative Investigation, we...

The net worth of households and nonprofit organizations grows by $249 billion to reflect the value of policies that were previously missing from the Financial Accounts of the United States (Financial Accounts). Businesses also capture $81 billion from previously missing policies. The rest of the...

This joint FEDS Note and Liberty Street Economics blog post from staff at the Board of Governors and Federal Reserve Bank of New York aims to share initial insights on the Treasury cash transactions data reported to Financial Industry Regulatory Authority (FINRA)'s Trade Reporting and Compliance...

Data from the Federal Reserve Board's Survey of Consumer Finances indicate that although total household wealth has fully recovered from the Great Recession, there has been only modest growth for the vast majority of families since 2010, and most families have not recovered to pre-recession...

We investigate how companies with large holdings of cash abroad have used those funds following the Tax Cuts and Jobs Act, which eliminated prior tax disincentives on the repatriation of foreign earnings

We provide evidence that the persistence of the large number of local bank branches across the country may be due to the fact that both depositors and small businesses continue to value local bank branches