Explaining the K‑Shaped Economy: What’s Behind the Divide?
An analysis of the recent divergence in consumer spending in which higher-income households experience faster spending growth than lower-income households.
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Tracking the K‑Shaped Economy: Who’s Driving Spending?
A look at how recent consumer spending growth has been driven by high-income households, with consumption exhibiting a K-shaped economy since 2023.
Bank Failures: The Roles of Solvency and Liquidity
Do banks fail because of runs or because they become insolvent? Answering this question is central to understanding financial crises and designing effective financial stability policies. Long-run historical evidence reve...
The R*–Labor Share Nexus
The authors provide a simple model that captures the joint evolution of the labor share and the natural rate of interest, referred to as "r-star."
Use of Gen AI in the Workplace and the Value of Access to Training
The authors look at access to gen AI tools in the workplace and how much workers value training, from the Nov. Survey of Consumer Expectations.
What Millions of Homeowner’s Insurance Contracts Reveal About Risk Sharing
A look at how homeowner’s insurance contracts are designed with respect to property risk.
A Closer Look at Emerging Market Resilience During Recent Shocks
A look at how a recent succession of shocks to the global economy has affected emerging market resilience.
The Fed Has Two Tools to Influence Money Market Conditions
A look at two monetary policy tools the Federal Reserve uses to influence money market conditions: changes in both administrative rates and in the size of its balance sheet.
Treasury Market Liquidity Since April 2025
A look at how U.S. Treasury market liquidity has evolved over the past year’s economic and political developments.
Behind the ATM: Exploring the Structure of Bank Holding Companies
A look at modern bank holding companies and how banks’ organizational structures have changed over time.
Sports Betting Is Everywhere, Especially on Credit Reports
A look at sports betting and its effects on consumer financial health in states where it has been legalized and across state lines.
China’s Electric Trade
A look at China’s push to develop advanced electric technology and how this has influenced the global trade of these goods.