The Atlanta Fed's macroblog provides commentary and analysis on economic topics including monetary policy, macroeconomic developments, inflation, labor economics, and financial issues.
- BLS Handbook of Methods
- Bureau of Economic Analysis
- Bureau of Labor Statistics
- Congressional Budget Office
- Economic Data - FRED® II, St. Louis Fed
- Office of Management and Budget
- Statistics: Releases and Historical Data, Board of Governors
- U.S. Census Bureau Economic Programs
- White House Economic Statistics Briefing Room
October 02, 2007
Where, Exactly, Is The Atlanta Fed?
Well, I'm not exactly announcing the permanent return of macroblog just yet, but this item from the Wall Street Journal's Real Time Economics blog caught my eye:
Does a local housing market’s performance influence how a Federal Reserve Bank president feels about interest rates? An analysis by J.P. Morgan economist Michael Feroli suggests it might.
Mr. Feroli looked at home prices in headquarters cities for each of the Fed’s regional districts and found that five of the six with housing markets faring the best didn’t originally request discount-rate cuts last month. “All (Fed) politics is local,” Mr. Feroli writes.
Ahead of the Fed’s most recent policy meeting, seven of the 12 regional banks submitted requests to the Federal Reserve Board to lower the discount rate, for direct loans by the Fed to commercial banks, by half a percentage point. Some of the five that didn’t request the discount-rate reduction — Atlanta, Chicago, Dallas, Philadelphia and Richmond — may have been less enthusiastic about an aggressive cut in the benchmark federal-funds rate.
Here's a version of the picture illustrating Mr. Feroli's assertion:
That's interesting, but as everyone knows the Federal Reserve Bank districts are a bit larger than the cities in which they are based. Here, for example, is a map of the area represented by the Federal Reserve Bank of Atlanta (my current home base):
Hmm. What do you suppose happens if I take Feroli's chart and replace Atlanta with Miami (the residents of which have exactly the same claim on the attentions of the Atlanta Fed as those who live in Georgia)?
I trust you get the point.
TrackBack URL for this entry:
Listed below are links to blogs that reference Where, Exactly, Is The Atlanta Fed?:
- Was May's Drop in Labor Force Participation All Bad News?
- Wage Growth for Job Stayers and Switchers Added to the Atlanta Fed's Wage Growth Tracker
- Experts Debate Policy Options for China's Transition
- It’s Not Just Millennials Who Aren't Buying Homes
- After the Conference, Another Look at Liquidity
- Moving On Up
- Putting the Wage Growth Tracker to Work
- Can Two Wrongs Make a Right?
- Are People in Middle-Wage Jobs Getting Bigger Raises?
- GDPNow and Then
- June 2016
- May 2016
- April 2016
- March 2016
- February 2016
- January 2016
- November 2015
- October 2015
- September 2015
- August 2015
- Business Cycles
- Business Inflation Expectations
- Capital and Investment
- Capital Markets
- Data Releases
- Economic conditions
- Economic Growth and Development
- Exchange Rates and the Dollar
- Fed Funds Futures
- Federal Debt and Deficits
- Federal Reserve and Monetary Policy
- Financial System
- Fiscal Policy
- Health Care
- Inflation Expectations
- Interest Rates
- Labor Markets
- Latin America/South America
- Monetary Policy
- Money Markets
- Real Estate
- Saving, Capital, and Investment
- Small Business
- Social Security
- This, That, and the Other
- Trade Deficit
- Wage Growth