Journal Article
Trends in the Noninterest Income of Banks
Young, Tristan; Haubrich, Joseph G. (2019-09)
A large fraction of banks? revenue comes from noninterest income, which includes items such as overdraft fees and ATM charges. We investigate whether this source of income has increased since the financial crisis, given that banks? interest income may have been impacted by the low interest rate environment. We find that total noninterest income has actually decreased. However, service charges, one of the subcomponents of noninterest income, have increased. The increase in service charges is masked in the data on total noninterest income because other types of noninterest income, specifically ...
Economic Commentary , Issue September

Journal Article
An Assessment of the ISM Manufacturing Price Index for Inflation Forecasting
Young, Tristan; Bognanni, Mark (2018-05-24)
The Institute for Supply Management produces a measure of pricing trends, the manufacturing price index or ISMPI, that is constructed from its periodic surveys of purchasing and supply executives. We investigate this measure?s predictive content for producer and consumer price inflation by assessing its ability to improve inflation forecasts for three broad monthly inflation measures. We find that the ISMPI has some predictive content for producer prices but not for consumer prices.
Economic Commentary , Volume 2018 , Issue 05 , Pages 6