Federal Reserve
Fund manager skill and efficiency: Alpha decomposition reveals insights
A new Federal Reserve study introduces 'efficiency' as a measure of mutual fund manager ability, decomposing abnormal returns (alpha) into this new metric and traditional 'skill'.
Focus
Fed scenarios 1968-2020: Value and limits for risk management
A new Federal Reserve paper documents 1,265 staff alternative scenarios presented to the FOMC from 1968 to 2020.
Bowman details framework for practical Fed policy
Federal Reserve Vice Chair for Supervision Michelle W. Bowman presented her framework for practical monetary policy decision-making.
Latest
Jefferson flags global risks, upside inflation pressures
Federal Reserve Vice Chair Philip N. Jefferson outlined three global economic developments, including elevated energy prices and AI advancement, that could impact the U.S. economy.
Cook highlights AI's economic promise, warns of inflation risks
Federal Reserve Governor Lisa D. Cook discussed the opportunities and risks of artificial intelligence for the economy and financial system.
Bank regulation shifts systemic risk to nonbank sector
A new Federal Reserve study develops a structural network model to analyze how bank regulation impacts nonbank financial intermediation and systemic risk.
More Topics
Study quantifies debt's causal effect on interest rates
A new Federal Reserve working paper uses a natural experiment to measure the causal effect of expected debt-financed fiscal stimulus on interest rates.
Federal Reserve holds key rates steady
The Federal Reserve Board maintained the primary credit rate at 3.75 percent following meetings on April 20 and 29, 2026.
Agencies find Bank of America's 2025 resolution plan satisfactory
The Federal Reserve and Federal Deposit Insurance Corporation found Bank of America's 2025 resolution plan satisfactory.
Waller: Middle East conflict shifts Fed policy risks
Federal Reserve Governor Christopher J. Waller stated that the Middle East conflict has significantly altered the outlook for U.S. monetary policy.
Press conferences predict future Fed policy, study finds
A new Federal Reserve Board paper uses large language models to quantify central bank communication, demonstrating that press conferences correlate more strongly with future policy than FOMC statements.
Fed proposes payment account for clearing, settlement
The Federal Reserve Board has requested public comment on a proposal to establish a new 'payment account' for legally eligible financial institutions.