Preliminary core PCE projections are clustered around 0.22%-0.26%
Note: these have bigger uncertainty bands than they normally do given the upcoming NIPA revisions
New #FEDSPaper: The Spillovers of LSAPs on Banks in the Euro Area. Bank-level evidence shows that LSAPs affect banks in the euro area through an “international bank capital channel,” providing new insights into the sources of the Global Financial Cycle. https://t.co/u4Z1SOKQFO
The model suggests that they account for up to 40 percent of U.S. inflation observed in 2020 and 2021, depending on the slope of the Phillips curve. (2/2) https://t.co/7aVRXcqfRB #FEDSPaper#EconTwitter
FR-HANK, a new quantitative heterogeneous agent model, successfully predicts the decumulation rate of pandemic-era excess savings. (1/2) https://t.co/7aVRXcqNH9 #FEDSPaper#EconTwitter
📢Join us in Berlin & online for our next Kiel-CEPR Research Seminar
🗓️July 25th 🕛12 pm CEST
We are excited to welcome @ATischbi, Principal Economist @federalreserve, for insights on the macroeconomic effects of excess savings!
RSVP here 👉 https://t.co/mJittupB1f
Very happy that our paper “The Transmission of Monetary Policy under the Microscope” has been published in @JPolEcon, joint work with @BlomhoffHolm and @ATischbi. With a slight delay, here is a short summary! https://t.co/sUDUHuPM5V (1/N)