Search Results
Journal Article
How do benefit adjustments for government transfer programs compare with their participants' inflation experiences?
The authors measure the inflation experienced by demographic groups that likely received benefits from major government transfer programs during the period 1980?2010. They then compare the group-specific inflation measures with the transfer programs? benefit adjustments, which are typically based on aggregate inflation. The extent to which the program benefits keep up with group inflation differs across the programs and their targeted groups, depending on both the ways in which the benefits are adjusted for price changes and the spending patterns of the various groups.
Newsletter
How liquid are U.S. life insurance liabilities?
This article describes the liquidity of various life insurance products and provides a measure that can be used to characterize the liquidity of the liabilities of the industry as a whole or of a particular firm.
Working Paper
Risk taking and the quality of informal insurance: gambling and remittances in Thailand
More than 35% of Thai households either give or receive remittances, and remittances account for about one-third of the income of the receiving households. Remittance relationships may be an important source of protection against adverse events for the individuals involved. This paper provides evidence that remittances behave in a way that is consistent with insurance: they are sensitive to shocks to regional rainfall and they respond to household level events. The paper goes on to consider how the quality of insurance that is offered through remittances affects household risk taking ...
Speech
Economic Outlook
Philadelphia Fed President Anna Paulson gives her first economic outlook speech at the National Association for Business Economics Annual Meeting in Philadelphia.
Speech
Navigating Uncertainty: Inflation, Labor Markets, and the Stance of Monetary Policy
Philadelphia Fed President and CEO Anna Paulson shared her perspective on the economic outlook in a keynote speech at the Federal Reserve Bank of Atlanta’s 2026 Financial Markets Conference in Amelia Island, FL.
Discussion Paper
A Roadmap for the Federal Reserve’s 2025 Review of Its Monetary Policy Framework
The Federal Reserve’s first formal, public review of its monetary policy framework (MPF) was completed in 2020 and included a plan to review monetary policy strategy, tools, and communication practices roughly every five years. The review conducted in 2025 thus constituted the Fed’s first five-year review of its MPF.
Newsletter
Islamic finance in the United States: a small but growing industry
This article provides an overview of the potential market for Islamic finance and some of the challenges providers face in serving this unique market.
Newsletter
Strategies for success in financial education
The Federal Reserve Bank of Chicago will host a conference, Financial Literacy, Financial Education, and the Federal Reserve: Strategies for Success, on September 11, 2009. This article reviews some of the financial education activities throughout the Federal Reserve System.
Conference Paper
Prospects for immigrant-native wealth assimilation: evidence from financial market participation
Because financial transactions are important for wealth accumulation, and rely on trust and confidence in institutions, the financial market behavior of immigrants can provide important insights into the assimilation process. Compared to the native-born, immigrants are less likely to own savings and checking accounts and these differences tend to persist over time. Our results suggest that a large share of the immigrant-native gap in financial market participation is driven by group differences in education, income, and geographic location. For a given immigrant, the likelihood of financial ...
Searching for “Inflation Canaries” in Household Surveys
Current surveys of household inflation expectations make it challenging to identify “inflation canaries”—individuals who consistently send out early and accurate warning signals for inflation. We propose some simple changes in survey design (longer, staggered survey panels) and emphasis (focusing on changes in expectations rather than levels and highlighting particularly accurate subpopulations) that have the potential to alleviate these concerns. To demonstrate, we provide several examples using the Federal Reserve Bank of New York’s Survey of Consumer Expectations.