Coming out of the Great Recession, there are renewed concerns about the level of economic opportunity throughout the income distribution and the extent to which economic advancement is a realistic goal for all American families

This note uses information provided in the quarterly Summary of Economic Projections (SEP) of Federal Open Market Committee (FOMC) meeting participants to extract estimates of the neutral federal funds rate--defined as the value of the federal funds rate that is "neither expansionary nor...

One of the primary roles of central banks like the Federal Reserve is to provide liquidity to the financial system, particularly during periods of stress. The discount window is a critical tool for providing that liquidity

The median size of single family residences built from 1980 to 2014 grew by 50 percent, from 1,600 to 2,400 square feet. By contrast, during that same time, the median lot size shrank by over 20 percent; dwindling from 11,300 to 8,800 square feet. As a result, we observe a marked increase in the...

This note is the third part in a three part series. Part 1 provides some historical background and discusses key institutional characteristics of the Federal Home Loan Banks (FHLB) System. Part 2 highlights some of the recent trends in the FHLB system and potential drivers of those trends. This...

This note is the second part in a three part series. Part 1 provides some historical background and discusses key institutional characteristics of the Federal Home Loan Banks (FHLB) System. This note discusses recent trends in the FHLB system and potential drivers of those trends

The Federal Home Loan Bank (FHLB) system was founded in 1932 to support mortgage lending by thrifts and insurance companies. Over time, the system has grown into a provider of funding for a larger range of financial institutions, including commercial banks and insurance companies