Our supply-side explanation for trade policy reveals district and industry-level patterns of winners and losers, central to understanding the political consequences of trade and the backlash against globalization.
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The Michigan Consumer Sentiment index fell to 61.3 in November versus 63.8 in October, seemingly due to high price concerns.
Firms are planning to maintain or increase their workforce in 2024, despite persistent hiring challenges and a recent downturn in short-run expectations. But how would this change if demand decreased unexpectedly?
This paper provides independent estimates of the disincentive effects arising from the largest expansion of UI in U.S. history, the pandemic unemployment benefits.
John O'Trakoun introduces the "trimmed persistence PCE," a new measure of core inflation in which component prices are weighted according to the time-varying persistence of their price changes.
Fifth District Surveys of Manufacturing and Service Sector Activity
Manufacturing activity in the Fifth District slowed in November while service sector activity was flat.
These interactive, county-level maps showcase the differences in demographic and economic indicators across the rural-urban landscape of the Fifth District.

Research Associates help the Richmond Fed's economists with their research and policy memos for briefing the Bank's president on the state of the economy. For recent graduates thinking about applying to a Ph.D. program, this position is an ideal way to learn more about academic economic research.
Since 2021, the Collaboration of Research Economists (CORE) model has combined frontier research and an innovative delivery method to advance collaboration within the economics profession. Economists from a range of disciplines join with Richmond Fed economists eight times per year for seminars, collaboration, and formal and informal networking — all with an eye toward advancing economic research.