Note: Bond returns are approximated using 10-year on-the-run government bond yields and duration of 7 years. Stock returns are based on the S&P 500, Euro Stoxx, and FTSE 100 indexes for the United States, the euro area, and the United Kingdom, respectively. Euro-area bond yields are German 10-year government bond yields. Key identifies in order from left to right. Source: Bloomberg. Accessible…
Canlin Li and Emre Yoldas Earlier this year, escalation of the conflict in the Middle East resulted in sharp declines in major stock indexes as energy prices rose and the global economic outlook deteriorated, but prices…
Maria D. Tito Artificial intelligence (AI) technologies have the potential to transform production processes and labor markets, yet their ultimate effects on employment, occupations, and skill demand remain uncertain…
Adrian Hamins-Puertolas and Maria D. Tito The motor vehicle industry suffered severe production disruptions during 2021 and 2022, as semiconductor shortages—triggered by pandemic-era plant closures and shifting demand…
Robin Braun and Maria D. Tito Light vehicles (NAICS 33611) account for approximately 7 percent of U.S. merchandise goods imports, making it an economically significant trade category. Because motor vehicles also receive…
Cody Kallen For decades, China was a major destination for foreign direct investment (FDI) by U.S. companies. In the last decade, however, trade tensions, geopolitical risks, and investment screening have interrupted…
Harun Alp, Sina Ates, Colin Caines, Nathan Converse, Jasper Hoek, and Eva Van Leemput Global imbalances have returned to the forefront of policy debates, with China at the center of those discussions. China's trade…
Kristen Payne and Mary-Frances Styczynski The money supply is defined as a group of safe assets with stable values that households and businesses can use to make payments or to hold as short-term investments. In the…
Alex Haag, Colin J. Hottman, and Amanda Tinkham Amid the largest global oil supply shock in history, oil futures prices moved up much less than many expected. The steep backwardation in oil futures from the Strait of…
Sriya Anbil, Alyssa Anderson, Lucy Cordes, and Romina Ruprecht As the Federal Reserve (Fed) navigates periods of balance sheet expansion and reduction, it has become increasingly important to understand how changes in…
Elena Falcettoni One of the goals of the Federal Reserve has always been the promotion of a safe and efficient payments system, and it consistently fosters such an environment by playing multiple, simultaneous roles…