Remarks delivered by Sam Schulhofer-Wohl at the Federal Reserve Bank of Chicago Financial Markets Group Fall Conference.

Dallas Fed President Lorie Logan delivered these remarks on a visit to Davidson College. Thank you, Professor [Fred] Smith, ...

Abstract: We investigate how endogenous rigidities inhibit physical capital reallocation. We focus on the role of contract duration—a classic example of an adjustment rigidity. We argue that when ...

Abstract: This paper studies shortages of critical goods in an open economy with credit market frictions and the role of trade and industrial policy in mitigating them. We develop a dynamic model with ...

The Fort Worth economy weakened. Employment fell in the three months ending in September, with growth mixed across sectors. Wages and retail sales tax collections increased in September. Office and ...

The Weekly Economic Index (WEI) provides a signal of the state of the U.S. economy based on data available at a daily or weekly frequency. It represents the common component of 10 different daily and ...

The Texas labor market softened in September. Employment fell, with growth mixed across sectors. However, the unemployment rate was flat and wages increased in September.

Estimates of the size of the basis trade—buying Treasuries and selling futures—have edged lower recently, raising questions regarding the underlying causes. We argue that the trade has become less ...

Global refinery capacity has declined by as much as 10 percent amid mounting transportation challenges and geopolitical tensions. They include closure of the Strait of Hormuz, attacks from Houthi ...

The U.S. average tariff rate increased from 2.9 percent in January 2025 to 14.8 percent in December, a rise of almost 12 percentage points. The surge—the largest such U.S. jump since the Smoot-Hawley ...

The Texas economy continued to expand in August. Employment rose, the unemployment rate ticked down and wages increased. The September Texas Business Outlook Surveys indicated growth in manufacturing ...