ECONOMY
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The Regional Side of the Story: K-Shaped Pattern in Region, Wider Gap in Gas Spending
Rajashri Chakrabarti, Thu Pham, Beck Pierce, and Maxim L. Pinkovskiy In this post, we use the inaugural release of our…
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Honey, Who Shrunk the U.S. Income Surplus?
Matthew Higgins and Thomas Klitgaard Foreign holdings of U.S. financial assets are immense, with official estimates putting their current market…
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AI’s Macroeconomic Challenges and Promises
Simone Lenzu In the third quarter of 2025, America’s largest tech firms for the first time spent more on capital…
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The Global Credit Cycle in Corporate Bond Returns
Nina Boyarchenko and Leonardo Elias The global corporate nonfinancial bond market is both a large investment asset class and a…
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Do Job Postings Show Early Labor-Market Effects of AI?
Richard Audoly, Miles Guerin, and Giorgio Topa As generative AI tools become more widely used, a key issue is the…
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Federal Student Loan Defaults Return After Pandemic Pause
Zara Jacob, Donghoon Lee, Daniel Mangrum, Joelle W. Scally, and Wilbert van der Klaauw During 2026:Q1, household debt balances increased…
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Stress and Strain from NBFIs to Banks
Viral V. Acharya, Nicola Cetorelli, and Bruce Tuckman Do the recent stresses in the NBFI space—notably the bankruptcies of Tricolor…
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Same Shock, Different Roads? A K-Shaped Pattern at the Pump
Rajashri Chakrabarti, Thu Pham, Beck Pierce, and Maxim Pinkovskiy In March 2026, energy prices surged to a four-year high, driven…
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In What Ways Has U.S. Trade with China Changed?
Hunter L. Clark and Gregory Simitian Over the past year, U.S. trade policy with China has undergone enormous changes, but…
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Explaining the K-Shaped Economy: What’s Behind the Divide?
Rajashri Chakrabarti, Thu Pham, Beck Pierce, and Maxim L. Pinkovskiy In our companion post, we used a new module of…
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