A deposit-pricing survey and comparison of 112 depository institutions in the Fourth Federal Reserve District, covering MMDAs, Super-NOWS, and CDs in an examination of the effect of interest-rate deregulation on banks and thrifts.

An analysis of deposit holdings of commercial banks and thrifts in the Fourth Federal Reserve District to determine the deposit growth and shifting that resulted from introduction of Super-NOWs and MMDAs.

An examination of the behavior of bank deposit yields and a discussion of some implications for deposit variability and for the interpretation of money growth in the wake of deregulation and other changes in the financial industry in the early 1980s.

The Federal Open Market Committee (FOMC) has maintained an accommodative monetary policy ever since the 2007 recession, and some financial market participants are concerned that long-term interest rates may increase more than should be expected when the Committee starts to tighten. But a look at...

This Economic Commentary explains the concerns that are associated with the combination of deflation, low economic activity, and zero nominal interest rates and describes how monetary policy might be conducted in such a situation. We argue that avoiding expectations of deflation is key and that...

This Economic Commentary explains a relatively new method of uncovering inflation expectations, real interest rates, and an inflation-risk premium. It provides estimates of expected inflation from one month to 30 years, an estimate of the inflation-risk premium, and a measure of real interest...

In 2001, the Federal Reserve lowered the federal funds rate target more than it had in over 25 years, but long-term interest rates didn't budge. Has monetary policy become ineffective? Just the opposite, the authors argue. The stability of long-term rates shows that people don't expect inflation...

A perspective on the Federal Reserve's policy moves in 1994 to maintain the desired rate of monetary growth in the face of other rising market interest rates and a suggestion that the Fed adopt formal multiyear commitments to specific inflation objectives to enhance its credibility and allow it...

The yield curve has a wealth of information about future interest rates and economic conditions. Users should exercise caution, though, as many of the relationships that hold between the behavior of the curve and what it foretells depend on the monetary regime in place at the time the curve is...

Adjustable-rate mortgages have typically been tied to either of two indexes, one based on U.S. treasuries, the other on the London interbank offered rate, or Libor. The index is used to determine a mortgage’s new interest rate when it is reset, and up until recently, the choice would have made...