[](https://libertystreeteconomics.newyorkfed.org)
Liberty Street Economics
========================
March 21, 2025
[The New York Fed DSGE Model Forecast—March 2025](https://libertystreeteconomics.newyorkfed.org/2025/03/the-new-york-fed-dsge-model-forecast-march-2025/)
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Marco Del Negro, Ibrahima Diagne, Pranay Gundam, Donggyu Lee, and Brian PaculaÂ
[](https://libertystreeteconomics.newyorkfed.org/2025/03/the-new-york-fed-dsge-model-forecast-march-2025/)
This post presents an update of the economic forecasts generated by the Federal Reserve Bank of New York’s dynamic stochastic general equilibrium (DSGE) model. We describe very briefly our forecast and its change since [December 2024](https://libertystreeteconomics.newyorkfed.org/2024/12/the-new-york-fed-dsge-model-forecast-december-2024/). As usual, we wish to remind our readers that the DSGE model forecast is not an official New York Fed forecast, but only an input to the Research staff’s overall forecasting process. For more information about the model and variables discussed here, see our [DSGE model Q & A](https://www.newyorkfed.org/research/policy/dsge#/overview).
[Continue reading »](https://libertystreeteconomics.newyorkfed.org/2025/03/the-new-york-fed-dsge-model-forecast-march-2025/)
Posted at 9:00 am in [DSGE](https://libertystreeteconomics.newyorkfed.org/dsge/) | [Permalink](https://libertystreeteconomics.newyorkfed.org/2025/03/the-new-york-fed-dsge-model-forecast-march-2025/) | [Comments (0)](https://libertystreeteconomics.newyorkfed.org/2025/03/the-new-york-fed-dsge-model-forecast-march-2025/#comments)
March 6, 2025
[When the Household Pie Shrinks, Who Gets Their Slice?](https://libertystreeteconomics.newyorkfed.org/2025/03/when-the-household-pie-shrinks-who-gets-their-slice/)
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Jacob Conway, Natalia Fischl-Lanzoni, and Matthew Plosser
[](https://libertystreeteconomics.newyorkfed.org/2025/03/when-the-household-pie-shrinks-who-gets-their-slice/)
When households face budgetary constraints, they may encounter bills and debts that they cannot pay. Unlike corporate credit, which typically includes cross-default triggers, households can be delinquent on a specific debt without repercussions from their other lenders. Hence, households can choose which creditors are paid. Analyzing these choices helps economists and investors better understand the strategic incentives of households and the risks of certain classes of credit.
[Continue reading »](https://libertystreeteconomics.newyorkfed.org/2025/03/when-the-household-pie-shrinks-who-gets-their-slice/)
Posted at 7:00 am in [Credit](https://libertystreeteconomics.newyorkfed.org/credit/), [Household Finance](https://libertystreeteconomics.newyorkfed.org/household-finance/) | [Permalink](https://libertystreeteconomics.newyorkfed.org/2025/03/when-the-household-pie-shrinks-who-gets-their-slice/) | [Comments (0)](https://libertystreeteconomics.newyorkfed.org/2025/03/when-the-household-pie-shrinks-who-gets-their-slice/#comments)
March 5, 2025
[Firms’ Inflation Expectations Have Picked Up](https://libertystreeteconomics.newyorkfed.org/2025/03/firms-inflation-expectations-have-picked-up/)
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Jaison R. Abel, Richard Deitz, and Ben Hyman
Editors note: Since this post was published, we clarified language in the first paragraph about year-ahead expectations for manufacturing and service firms in the 2025 survey. We also corrected the y-axis range of Chart 2. (March 5, 11 a.m.)
[](https://libertystreeteconomics.newyorkfed.org/2025/03/firms-inflation-expectations-have-picked-up/)
After a period of particularly high inflation following the pandemic recession, [inflationary pressures have been moderating](https://libertystreeteconomics.newyorkfed.org/2024/02/businesses-see-inflationary-pressures-moderating/) the past few years. Indeed, the inflation rate as measured by the consumer price index has come down from a peak of 9.1 percent in the summer of 2022 to [3 percent](https://www.bls.gov/news.release/pdf/cpi.pdf) at the beginning of 2025. The New York Fed asked regional businesses about their own cost and price increases in February, as well as their expectations for future inflation. Service firms reported that business cost and selling price increases continued to moderate through 2024, while manufacturing firms reported some pickup in cost increases but not price increases. Looking ahead, firms expect both cost and price increases to move higher in 2025. Moreover, year-ahead inflation expectations have risen from 3 percent last year at this time to 3.5 among manufacturing firms and 4 percent among service firms, though longer-term inflation expectations remain anchored at around 3 percent.
[Continue reading »](https://libertystreeteconomics.newyorkfed.org/2025/03/firms-inflation-expectations-have-picked-up/)
Posted at 9:00 am in [Inflation](https://libertystreeteconomics.newyorkfed.org/inflation/), [Regional Analysis](https://libertystreeteconomics.newyorkfed.org/regional-analysis/), [Tariffs](https://libertystreeteconomics.newyorkfed.org/tariffs/) | [Permalink](https://libertystreeteconomics.newyorkfed.org/2025/03/firms-inflation-expectations-have-picked-up/) | [Comments (0)](https://libertystreeteconomics.newyorkfed.org/2025/03/firms-inflation-expectations-have-picked-up/#comments)
March 3, 2025
[Comparing Apples to Apples: “Synthetic Real‑Time” Estimates of R‑Star](https://libertystreeteconomics.newyorkfed.org/2025/03/comparing-apples-to-apples-synthetic-real-time-estimates-of-r-star/)
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Sophia Cho and John C. Williams
[](https://libertystreeteconomics.newyorkfed.org/2025/03/comparing-apples-to-apples-synthetic-real-time-estimates-of-r-star/)
Estimates of the natural rate of interest, commonly called “r-star,” garner a great deal of attention among economists, central bankers, and financial market participants. The natural interest rate is the real (inflation-adjusted) interest rate expected to prevail when supply and demand in the economy are in balance and inflation is stable. The natural rate cannot be measured directly but must be inferred from other data. When assessing estimates of r-star, it is important to distinguish between real-time estimates and retrospective estimates. Real-time estimates answer the question: “What is the value of r-star based on the information available at the time?” Meanwhile, retrospective estimates answer the question: “What was r-star at some point in the past, based on the information available today?” Although the latter question may be of historical interest, the former question is typically more relevant in practice, whether in financial markets or central banks. Thus, given their different nature, comparing real-time and retrospective estimates is like comparing apples to oranges. In this _Liberty Street Economics_ post, we address this issue by creating new “synthetic real-time” estimates of r-star in the U.S. for the [Laubach-Williams (2003)](https://www.federalreserve.gov/pubs/feds/2001/200156/200156pap.pdf?_ppp=f0ccfb463e) and [Holston-Laubach-Williams (2017)](https://www.frbsf.org/wp-content/uploads/wp2016-11.pdf?_ppp=f0ccfb463e) models, using vintage datasets. These estimates enable apples-to-apples comparisons of the behavior of real-time r-star estimates over the past quarter century.
[Continue reading »](https://libertystreeteconomics.newyorkfed.org/2025/03/comparing-apples-to-apples-synthetic-real-time-estimates-of-r-star/)
Posted at 2:00 pm in [Inflation](https://libertystreeteconomics.newyorkfed.org/inflation/), [Macroeconomics](https://libertystreeteconomics.newyorkfed.org/macroeconomics/) | [Permalink](https://libertystreeteconomics.newyorkfed.org/2025/03/comparing-apples-to-apples-synthetic-real-time-estimates-of-r-star/) | [Comments (0)](https://libertystreeteconomics.newyorkfed.org/2025/03/comparing-apples-to-apples-synthetic-real-time-estimates-of-r-star/#comments)
February 28, 2025
[Kartik Athreya on His First Year as Research Director of the New York Fed](https://libertystreeteconomics.newyorkfed.org/2025/02/kartik-athreya-on-his-first-year-as-research-director-of-the-new-york-fed/)
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[](https://libertystreeteconomics.newyorkfed.org/2025/02/kartik-athreya-on-his-first-year-as-research-director-of-the-new-york-fed/)
A year has passed since Kartik Athreya became director of research at the New York Fed. To get some perspective on his experience thus far, we caught up with Kartik and asked about his views on economics, the role of Research at the Bank, and his take on a few of the hot topics of the day.
[Continue reading »](https://libertystreeteconomics.newyorkfed.org/2025/02/kartik-athreya-on-his-first-year-as-research-director-of-the-new-york-fed/)
Posted at 7:00 am in [Central Bank](https://libertystreeteconomics.newyorkfed.org/central-bank/), [Hey, Economist!](https://libertystreeteconomics.newyorkfed.org/hey-economist/) | [Permalink](https://libertystreeteconomics.newyorkfed.org/2025/02/kartik-athreya-on-his-first-year-as-research-director-of-the-new-york-fed/) | [Comments (0)](https://libertystreeteconomics.newyorkfed.org/2025/02/kartik-athreya-on-his-first-year-as-research-director-of-the-new-york-fed/#comments)
February 27, 2025
[Supply and Demand Drivers of Global Inflation Trends](https://libertystreeteconomics.newyorkfed.org/2025/02/supply-and-demand-drivers-of-global-inflation-trends/)
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Ozge Akinci, Martin Almuzara, Silvia Miranda-Agrippino, Ramya Nallamotu, Argia Sbordone, Greg Simitian, and William Zeng
[](https://libertystreeteconomics.newyorkfed.org/2025/02/supply-and-demand-drivers-of-global-inflation-trends/)
Our [previous post](https://libertystreeteconomics.newyorkfed.org/2025/02/global-trends-in-u-s-inflation-dynamics/) identified strong global components in the slow-moving and persistent dynamics of headline consumer price index (CPI) inflation in the U.S. and abroad. We labeled these global components as the Global Inflation Trend (GIT), the Core Goods Global Inflation Trend (CG-GIT) and the Food & Energy Global Inflation Trend (FE-GIT). In this post we offer a narrative of the drivers of these global inflation trends in terms of shocks that induce a trade-off for monetary policy, versus those that do not. We show that most of the surge in the persistent component of inflation across countries is accounted for by global supply shocks—that is, shocks that induce a trade-off for central banks between their objectives of output and inflation stabilization. Global demand shocks have become more prevalent since 2022. However, had central banks tried to fully offset the inflationary pressures due to sustained demand, this would have resulted in a much more severe global economic contraction.
[Continue reading »](https://libertystreeteconomics.newyorkfed.org/2025/02/supply-and-demand-drivers-of-global-inflation-trends/)
Posted at 9:01 am in [Inflation](https://libertystreeteconomics.newyorkfed.org/inflation/), [International Economics](https://libertystreeteconomics.newyorkfed.org/international-economics/), [Macroeconomics](https://libertystreeteconomics.newyorkfed.org/macroeconomics/) | [Permalink](https://libertystreeteconomics.newyorkfed.org/2025/02/supply-and-demand-drivers-of-global-inflation-trends/) | [Comments (0)](https://libertystreeteconomics.newyorkfed.org/2025/02/supply-and-demand-drivers-of-global-inflation-trends/#comments)
[Global Trends in U.S. Inflation Dynamics](https://libertystreeteconomics.newyorkfed.org/2025/02/global-trends-in-u-s-inflation-dynamics/)Â
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Ozge Akinci, Martin Almuzara, Silvia Miranda-Agrippino, Ramya Nallamotu, Argia Sbordone, Greg Simitian, and William Zeng
[](https://libertystreeteconomics.newyorkfed.org/2025/02/global-trends-in-u-s-inflation-dynamics/)
A key feature of the post-pandemic inflation surge was the strong correlation among inflation rates across sectors in the United States. This phenomenon, however, was not confined to the U.S. economy, as similar inflationary pressures have emerged in other [advanced economies](https://libertystreeteconomics.newyorkfed.org/2022/01/the-global-supply-side-of-inflationary-pressures/). As generalized as the [inflation surge](https://www.federalreserve.gov/econres/notes/feds-notes/lessons-from-the-co-movement-of-inflation-around-the-world-20240628.html) was, so was its decline from the mid-2022 peak. This post explores the common features of inflation patterns in the U.S. and abroad using an extension of the [Multivariate Core Trend (MCT) Inflation](https://www.newyorkfed.org/research/policy/mct#--:overview) model, our underlying inflation tracker for the U.S. The Global MCT model purges transitory noise from international sectoral inflation data and quantifies the covariation of their persistent components—in the form of global inflation trends—along both country and sectoral dimensions. We find that global trends play a dominant role in determining the slow-moving and persistent dynamics of headline consumer price index (CPI) inflation in the U.S. and abroad, both over the pre-pandemic and post pandemic samples.
[Continue reading »](https://libertystreeteconomics.newyorkfed.org/2025/02/global-trends-in-u-s-inflation-dynamics/)
Posted at 9:00 am in [Inflation](https://libertystreeteconomics.newyorkfed.org/inflation/), [International Economics](https://libertystreeteconomics.newyorkfed.org/international-economics/), [Macroeconomics](https://libertystreeteconomics.newyorkfed.org/macroeconomics/) | [Permalink](https://libertystreeteconomics.newyorkfed.org/2025/02/global-trends-in-u-s-inflation-dynamics/) | [Comments (0)](https://libertystreeteconomics.newyorkfed.org/2025/02/global-trends-in-u-s-inflation-dynamics/#comments)
February 26, 2025
[U.S. Imports from China Have Fallen by Less Than U.S. Data Indicate](https://libertystreeteconomics.newyorkfed.org/2025/02/u-s-imports-from-china-have-fallen-by-less-than-u-s-data-indicate/)
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Hunter L. Clark
[](https://libertystreeteconomics.newyorkfed.org/2025/02/u-s-imports-from-china-have-fallen-by-less-than-u-s-data-indicate/)
With new tariffs on China back in the headlines, this post seeks to offer some perspective on how much China’s exports have really been affected by multiple rounds of U.S. tariffs and export restrictions over the past seven years. The key takeaway is that U.S. imports from China have decreased by much less than has been reported in official U.S. statistics. As a result, the recent tariff increase on China could have a larger impact on the U.S. economy than is suggested by official U.S. data on the China import share, especially if favorable tariff treatment for direct-to-consumer imports is ended.
[Continue reading »](https://libertystreeteconomics.newyorkfed.org/2025/02/u-s-imports-from-china-have-fallen-by-less-than-u-s-data-indicate/)
Posted at 7:00 am in [Exports](https://libertystreeteconomics.newyorkfed.org/exports/), [Tariffs](https://libertystreeteconomics.newyorkfed.org/tariffs/) | [Permalink](https://libertystreeteconomics.newyorkfed.org/2025/02/u-s-imports-from-china-have-fallen-by-less-than-u-s-data-indicate/) | [Comments (0)](https://libertystreeteconomics.newyorkfed.org/2025/02/u-s-imports-from-china-have-fallen-by-less-than-u-s-data-indicate/#comments)
February 14, 2025
[How Censorship Resistant Are Decentralized Systems?](https://libertystreeteconomics.newyorkfed.org/2025/02/how-censorship-resistant-are-decentralized-systems/)
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Jon Durfee and Michael Lee
[](https://libertystreeteconomics.newyorkfed.org/2025/02/how-censorship-resistant-are-decentralized-systems/)
Public permissionless blockchains are designed to be censorship resistant, meaning access to the blockchain is unhampered. In practice, different blockchain ecosystem actors (such as users, builders, or proposers) can influence the degree to which a blockchain is resistant to censorship. In a [recent Staff Report](https://www.newyorkfed.org/research/staff_reports/sr1112.html), we examine how sanctions imposed by the Office of Foreign Assets Control (OFAC) on Tornado Cash, a set of noncustodial cryptocurrency smart contracts on Ethereum, affected Tornado Cash and the broader Ethereum network. In this post, we summarize findings regarding sanction cooperation at the settlement layer by “block proposers”—a set of settlement actors specifically responsible for selecting new blocks to add to the blockchain.
[Continue reading »](https://libertystreeteconomics.newyorkfed.org/2025/02/how-censorship-resistant-are-decentralized-systems/)
Posted at 7:00 am in [Cryptocurrencies](https://libertystreeteconomics.newyorkfed.org/cryptocurrencies/), [Regulation](https://libertystreeteconomics.newyorkfed.org/regulation/) | [Permalink](https://libertystreeteconomics.newyorkfed.org/2025/02/how-censorship-resistant-are-decentralized-systems/)
February 13, 2025
[Breaking Down Auto Loan Performance](https://libertystreeteconomics.newyorkfed.org/2025/02/breaking-down-auto-loan-performance/)
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Andrew Haughwout, Donghoon Lee, Daniel Mangrum, Joelle Scally, and Wilbert van der Klaauw
[](https://libertystreeteconomics.newyorkfed.org/2025/02/breaking-down-auto-loan-performance/)
Debt balances continued to rise at a moderate pace in the fourth quarter of 2024, and delinquencies, particularly for auto loans and credit cards, remained elevated, according to the latest _[Quarterly Report on Household Debt and Credit](https://www.newyorkfed.org/microeconomics/hhdc/)_ from the New York Fed’s Center for Microeconomic Data. Auto loan balances have grown steadily since 2011, expanding by $48 billion in 2024. This increase reflects a steady inflow of newly originated auto loan balances, which in 2024 were boosted primarily by originations to very prime borrowers (those with credit scores over 760) while originations to borrowers with midprime and subprime scores held roughly steady. In this post, we take a closer look at auto loan performance and find that delinquencies have been rising across credit score bands and area income levels. We also break down auto loan performance by lender type and find that delinquencies are primarily concentrated in loans from non-captive auto finance companies.
[Continue reading »](https://libertystreeteconomics.newyorkfed.org/2025/02/breaking-down-auto-loan-performance/)
Posted at 11:00 am in [Household Finance](https://libertystreeteconomics.newyorkfed.org/household-finance/) | [Permalink](https://libertystreeteconomics.newyorkfed.org/2025/02/breaking-down-auto-loan-performance/) | [Comments (2)](https://libertystreeteconomics.newyorkfed.org/2025/02/breaking-down-auto-loan-performance/#comments)
[More Posts »](https://libertystreeteconomics.newyorkfed.org/page/2/)
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_Liberty Street Economics_ features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.
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#### Most Read this Year
1. [Delinquency Is Increasingly in the Cards for Maxed-Out Borrowers](https://libertystreeteconomics.newyorkfed.org/2024/05/delinquency-is-increasingly-in-the-cards-for-maxed-out-borrowers/)
2. [What Was Up with Grocery Prices?](https://libertystreeteconomics.newyorkfed.org/2024/07/what-was-up-with-grocery-prices/)
3. [Taking Stock: Dollar Assets, Gold, and Official Foreign Exchange Reserves](https://libertystreeteconomics.newyorkfed.org/2024/05/taking-stock-dollar-assets-gold-and-official-foreign-exchange-reserves/)
4. [When Are Central Bank Reserves Ample?](https://libertystreeteconomics.newyorkfed.org/2024/08/when-are-central-bank-reserves-ample/)Â Â
5. [Why Do Banks Fail? Three Facts About Failing Banks](https://libertystreeteconomics.newyorkfed.org/2024/11/why-do-banks-fail-three-facts-about-failing-banks/)
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* [2024](#)
* [December 2024](https://libertystreeteconomics.newyorkfed.org/2024/12/)
* [November 2024](https://libertystreeteconomics.newyorkfed.org/2024/11/)
* [October 2024](https://libertystreeteconomics.newyorkfed.org/2024/10/)
* [September 2024](https://libertystreeteconomics.newyorkfed.org/2024/09/)
* [August 2024](https://libertystreeteconomics.newyorkfed.org/2024/08/)
* [July 2024](https://libertystreeteconomics.newyorkfed.org/2024/07/)
* [June 2024](https://libertystreeteconomics.newyorkfed.org/2024/06/)
* [May 2024](https://libertystreeteconomics.newyorkfed.org/2024/05/)
* [April 2024](https://libertystreeteconomics.newyorkfed.org/2024/04/)
* [March 2024](https://libertystreeteconomics.newyorkfed.org/2024/03/)
* [February 2024](https://libertystreeteconomics.newyorkfed.org/2024/02/)
* [January 2024](https://libertystreeteconomics.newyorkfed.org/2024/01/)
* [2023](#)
* [December 2023](https://libertystreeteconomics.newyorkfed.org/2023/12/)
* [November 2023](https://libertystreeteconomics.newyorkfed.org/2023/11/)
* [October 2023](https://libertystreeteconomics.newyorkfed.org/2023/10/)
* [September 2023](https://libertystreeteconomics.newyorkfed.org/2023/09/)
* [August 2023](https://libertystreeteconomics.newyorkfed.org/2023/08/)
* [July 2023](https://libertystreeteconomics.newyorkfed.org/2023/07/)
* [June 2023](https://libertystreeteconomics.newyorkfed.org/2023/06/)
* [May 2023](https://libertystreeteconomics.newyorkfed.org/2023/05/)
* [April 2023](https://libertystreeteconomics.newyorkfed.org/2023/04/)
* [March 2023](https://libertystreeteconomics.newyorkfed.org/2023/03/)
* [February 2023](https://libertystreeteconomics.newyorkfed.org/2023/02/)
* [January 2023](https://libertystreeteconomics.newyorkfed.org/2023/01/)
* [2022](#)
* [December 2022](https://libertystreeteconomics.newyorkfed.org/2022/12/)
* [November 2022](https://libertystreeteconomics.newyorkfed.org/2022/11/)
* [October 2022](https://libertystreeteconomics.newyorkfed.org/2022/10/)
* [September 2022](https://libertystreeteconomics.newyorkfed.org/2022/09/)
* [August 2022](https://libertystreeteconomics.newyorkfed.org/2022/08/)
* [July 2022](https://libertystreeteconomics.newyorkfed.org/2022/07/)
* [June 2022](https://libertystreeteconomics.newyorkfed.org/2022/06/)
* [May 2022](https://libertystreeteconomics.newyorkfed.org/2022/05/)
* [April 2022](https://libertystreeteconomics.newyorkfed.org/2022/04/)
* [March 2022](https://libertystreeteconomics.newyorkfed.org/2022/03/)
* [February 2022](https://libertystreeteconomics.newyorkfed.org/2022/02/)
* [January 2022](https://libertystreeteconomics.newyorkfed.org/2022/01/)
* [2021](#)
* [December 2021](https://libertystreeteconomics.newyorkfed.org/2021/12/)
* [November 2021](https://libertystreeteconomics.newyorkfed.org/2021/11/)
* [October 2021](https://libertystreeteconomics.newyorkfed.org/2021/10/)
* [September 2021](https://libertystreeteconomics.newyorkfed.org/2021/09/)
* [August 2021](https://libertystreeteconomics.newyorkfed.org/2021/08/)
* [July 2021](https://libertystreeteconomics.newyorkfed.org/2021/07/)
* [June 2021](https://libertystreeteconomics.newyorkfed.org/2021/06/)
* [May 2021](https://libertystreeteconomics.newyorkfed.org/2021/05/)
* [April 2021](https://libertystreeteconomics.newyorkfed.org/2021/04/)
* [March 2021](https://libertystreeteconomics.newyorkfed.org/2021/03/)
* [February 2021](https://libertystreeteconomics.newyorkfed.org/2021/02/)
* [January 2021](https://libertystreeteconomics.newyorkfed.org/2021/01/)
* [2020](#)
* [December 2020](https://libertystreeteconomics.newyorkfed.org/2020/12/)
* [November 2020](https://libertystreeteconomics.newyorkfed.org/2020/11/)
* [October 2020](https://libertystreeteconomics.newyorkfed.org/2020/10/)
* [September 2020](https://libertystreeteconomics.newyorkfed.org/2020/09/)
* [August 2020](https://libertystreeteconomics.newyorkfed.org/2020/08/)
* [July 2020](https://libertystreeteconomics.newyorkfed.org/2020/07/)
* [June 2020](https://libertystreeteconomics.newyorkfed.org/2020/06/)
* [May 2020](https://libertystreeteconomics.newyorkfed.org/2020/05/)
* [April 2020](https://libertystreeteconomics.newyorkfed.org/2020/04/)
* [March 2020](https://libertystreeteconomics.newyorkfed.org/2020/03/)
* [February 2020](https://libertystreeteconomics.newyorkfed.org/2020/02/)
* [January 2020](https://libertystreeteconomics.newyorkfed.org/2020/01/)
* [2019](#)
* [December 2019](https://libertystreeteconomics.newyorkfed.org/2019/12/)
* [November 2019](https://libertystreeteconomics.newyorkfed.org/2019/11/)
* [October 2019](https://libertystreeteconomics.newyorkfed.org/2019/10/)
* [September 2019](https://libertystreeteconomics.newyorkfed.org/2019/09/)
* [August 2019](https://libertystreeteconomics.newyorkfed.org/2019/08/)
* [July 2019](https://libertystreeteconomics.newyorkfed.org/2019/07/)
* [June 2019](https://libertystreeteconomics.newyorkfed.org/2019/06/)
* [May 2019](https://libertystreeteconomics.newyorkfed.org/2019/05/)
* [April 2019](https://libertystreeteconomics.newyorkfed.org/2019/04/)
* [March 2019](https://libertystreeteconomics.newyorkfed.org/2019/03/)
* [February 2019](https://libertystreeteconomics.newyorkfed.org/2019/02/)
* [January 2019](https://libertystreeteconomics.newyorkfed.org/2019/01/)
* [2018](#)
* [December 2018](https://libertystreeteconomics.newyorkfed.org/2018/12/)
* [November 2018](https://libertystreeteconomics.newyorkfed.org/2018/11/)
* [October 2018](https://libertystreeteconomics.newyorkfed.org/2018/10/)
* [September 2018](https://libertystreeteconomics.newyorkfed.org/2018/09/)
* [August 2018](https://libertystreeteconomics.newyorkfed.org/2018/08/)
* [July 2018](https://libertystreeteconomics.newyorkfed.org/2018/07/)
* [June 2018](https://libertystreeteconomics.newyorkfed.org/2018/06/)
* [May 2018](https://libertystreeteconomics.newyorkfed.org/2018/05/)
* [April 2018](https://libertystreeteconomics.newyorkfed.org/2018/04/)
* [March 2018](https://libertystreeteconomics.newyorkfed.org/2018/03/)
* [February 2018](https://libertystreeteconomics.newyorkfed.org/2018/02/)
* [January 2018](https://libertystreeteconomics.newyorkfed.org/2018/01/)
* [2017](#)
* [December 2017](https://libertystreeteconomics.newyorkfed.org/2017/12/)
* [November 2017](https://libertystreeteconomics.newyorkfed.org/2017/11/)
* [October 2017](https://libertystreeteconomics.newyorkfed.org/2017/10/)
* [September 2017](https://libertystreeteconomics.newyorkfed.org/2017/09/)
* [August 2017](https://libertystreeteconomics.newyorkfed.org/2017/08/)
* [July 2017](https://libertystreeteconomics.newyorkfed.org/2017/07/)
* [June 2017](https://libertystreeteconomics.newyorkfed.org/2017/06/)
* [May 2017](https://libertystreeteconomics.newyorkfed.org/2017/05/)
* [April 2017](https://libertystreeteconomics.newyorkfed.org/2017/04/)
* [March 2017](https://libertystreeteconomics.newyorkfed.org/2017/03/)
* [February 2017](https://libertystreeteconomics.newyorkfed.org/2017/02/)
* [January 2017](https://libertystreeteconomics.newyorkfed.org/2017/01/)
* [2016](#)
* [December 2016](https://libertystreeteconomics.newyorkfed.org/2016/12/)
* [November 2016](https://libertystreeteconomics.newyorkfed.org/2016/11/)
* [October 2016](https://libertystreeteconomics.newyorkfed.org/2016/10/)
* [September 2016](https://libertystreeteconomics.newyorkfed.org/2016/09/)
* [August 2016](https://libertystreeteconomics.newyorkfed.org/2016/08/)
* [July 2016](https://libertystreeteconomics.newyorkfed.org/2016/07/)
* [June 2016](https://libertystreeteconomics.newyorkfed.org/2016/06/)
* [May 2016](https://libertystreeteconomics.newyorkfed.org/2016/05/)
* [April 2016](https://libertystreeteconomics.newyorkfed.org/2016/04/)
* [March 2016](https://libertystreeteconomics.newyorkfed.org/2016/03/)
* [February 2016](https://libertystreeteconomics.newyorkfed.org/2016/02/)
* [January 2016](https://libertystreeteconomics.newyorkfed.org/2016/01/)
* [2015](#)
* [December 2015](https://libertystreeteconomics.newyorkfed.org/2015/12/)
* [November 2015](https://libertystreeteconomics.newyorkfed.org/2015/11/)
* [October 2015](https://libertystreeteconomics.newyorkfed.org/2015/10/)
* [September 2015](https://libertystreeteconomics.newyorkfed.org/2015/09/)
* [August 2015](https://libertystreeteconomics.newyorkfed.org/2015/08/)
* [July 2015](https://libertystreeteconomics.newyorkfed.org/2015/07/)
* [June 2015](https://libertystreeteconomics.newyorkfed.org/2015/06/)
* [May 2015](https://libertystreeteconomics.newyorkfed.org/2015/05/)
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* [March 2015](https://libertystreeteconomics.newyorkfed.org/2015/03/)
* [February 2015](https://libertystreeteconomics.newyorkfed.org/2015/02/)
* [January 2015](https://libertystreeteconomics.newyorkfed.org/2015/01/)
* [2014](#)
* [December 2014](https://libertystreeteconomics.newyorkfed.org/2014/12/)
* [November 2014](https://libertystreeteconomics.newyorkfed.org/2014/11/)
* [October 2014](https://libertystreeteconomics.newyorkfed.org/2014/10/)
* [September 2014](https://libertystreeteconomics.newyorkfed.org/2014/09/)
* [August 2014](https://libertystreeteconomics.newyorkfed.org/2014/08/)
* [July 2014](https://libertystreeteconomics.newyorkfed.org/2014/07/)
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* [May 2014](https://libertystreeteconomics.newyorkfed.org/2014/05/)
* [April 2014](https://libertystreeteconomics.newyorkfed.org/2014/04/)
* [March 2014](https://libertystreeteconomics.newyorkfed.org/2014/03/)
* [February 2014](https://libertystreeteconomics.newyorkfed.org/2014/02/)
* [January 2014](https://libertystreeteconomics.newyorkfed.org/2014/01/)
* [2013](#)
* [December 2013](https://libertystreeteconomics.newyorkfed.org/2013/12/)
* [November 2013](https://libertystreeteconomics.newyorkfed.org/2013/11/)
* [October 2013](https://libertystreeteconomics.newyorkfed.org/2013/10/)
* [September 2013](https://libertystreeteconomics.newyorkfed.org/2013/09/)
* [August 2013](https://libertystreeteconomics.newyorkfed.org/2013/08/)
* [July 2013](https://libertystreeteconomics.newyorkfed.org/2013/07/)
* [June 2013](https://libertystreeteconomics.newyorkfed.org/2013/06/)
* [May 2013](https://libertystreeteconomics.newyorkfed.org/2013/05/)
* [April 2013](https://libertystreeteconomics.newyorkfed.org/2013/04/)
* [March 2013](https://libertystreeteconomics.newyorkfed.org/2013/03/)
* [February 2013](https://libertystreeteconomics.newyorkfed.org/2013/02/)
* [January 2013](https://libertystreeteconomics.newyorkfed.org/2013/01/)
* [2012](#)
* [December 2012](https://libertystreeteconomics.newyorkfed.org/2012/12/)
* [November 2012](https://libertystreeteconomics.newyorkfed.org/2012/11/)
* [October 2012](https://libertystreeteconomics.newyorkfed.org/2012/10/)
* [September 2012](https://libertystreeteconomics.newyorkfed.org/2012/09/)
* [August 2012](https://libertystreeteconomics.newyorkfed.org/2012/08/)
* [July 2012](https://libertystreeteconomics.newyorkfed.org/2012/07/)
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* [2011](#)
* [December 2011](https://libertystreeteconomics.newyorkfed.org/2011/12/)
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