Federal Reserve Bank of Dallas Headlines

Hot Stats: Texas State and Metro Economic Indicators

Fri, 9 May 2008 16:00 CST

The Texas economy expanded at a modest pace in March. The Dallas Fed's Texas Business-Cycle Index--a gauge of the region’s current economic conditions--increased an annualized 2.5 percent, slower than the 3.7 percent growth recorded in 2007

The Effect of Minimum Wages on Immigrants' Employment and Earnings

Fri, 9 May 2008 16:00 CST

This study examines how minimum wage laws affect the employment and earnings of low-skilled immigrants and natives in the U.S.

Financial Market Tremors: Causes and Responses

Tues, 6 May 2008 13:00 CST

This issue of Economic Letter features Dallas Fed President and CEO Richard W. Fisher's views on current financial market strains coming from excesses in mortgage lending.

Will New Business Tax Dull Texas' Competitive Edge?

Tues, 6 May 2008 9:00 CST

Examines the newly revised franchise tax and its implications for the state business climate.

Is Texas Overbanked?

Tues, 6 May 2008 9:00 CST

Texas isn't among the states with the most intense competition for banking services.

On the Record: The Dangers of Complacency About Risk

Tues, 6 May 2008 9:00 CST

Dallas Fed Research Director Harvey Rosenblum discusses the stability of the U.S. economy’s Great Moderation and how it set the stage for the financial turmoil that has gripped the nation since August 2007.

Permian Basin Cities Ride Oil Boom Again

Tues, 6 May 2008 9:00 CST

Examines the economic benefits the West Texas region is enjoying with rising oil prices.

Regional Economic Update

Mon, 5 May 2008 10:00 CST

Regional Economy Continues to Moderate--The Eleventh District economy slowed since January but continues to outperform the nation. While signals remain mixed, there is increased sentiment that Texas economic activity will not rebound to its trend rate of growth until 2009.

National Economic Update

Thu, 1 May 2008 14:00 CST

Broad-Based Softness in Early 2008--Recent reports reflect a fragile national economy. The economy grew slowly again in first quarter 2008, and more recent indicators suggest that economic activity has weakened in the second quarter amid increased upward pressures on food and energy prices that are causing inflationary pressures to edge up.

Trimmed-Mean PCE Inflation Rate

Thu, 1 May 2008 10:00 CST

The trimmed mean PCE inflation rate for March was an annualized 2.4 percent. According to the BEA, the overall PCE inflation rate for March was 3.7 percent, annualized, while the inflation rate for PCE excluding food and energy was 2.0 percent.

International Economic Update: Weakening Global Growth, Increasing Inflationary Pressures

Wed, 30 Apr 2008 14:39 CST

The International Monetary Fund's baseline projection of global growth for 2008 is 3.7 percent, down from 4.9 percent in 2007. Other analysts also forecast sluggish growth in the advanced economies in 2008 and 2009. The rapid expansion in the developing world, led by China and India, is expected to soften, but the pace will continue to be strong.

Quarterly Energy Update: No Letup in Energy Prices

Wed, 30 Apr 2008 12:30 CST

Oil prices continued rising, with the benchmark West Texas Intermediate (WTI) crude oil setting new records week after week and strengthening by about 20 percent in April alone. On Tuesday, April 23, WTI surged to nearly $120 per barrel, eclipsing the previous inflation-adjusted high of $104.10 set in April 1980.

Texas Manufacturing Remains Sluggish

Mon, 28 Apr 2008 9:30 CST

Texas manufacturing activity remained sluggish in April, according to the 112 business executives who responded to the Texas Manufacturing Outlook Survey. Indicators for current conditions were little changed from last month. The company outlook index improved, but the index for general business conditions moved slightly lower.

Hot Stats: Texas State and Metro Economic Indicators

Tues, 22 Apr 2008 16:00 CST

The Texas economy expanded moderately in February. The Dallas Fed's Texas Business-Cycle Index, a gauge of the region's current economic conditions, increased at a 3.1 percent annualized rate during the month. The current rate is somewhat slower than the 3.7 percent pace recorded in 2007.

FRB Dallas-Adjusted Texas Employment

Tues, 22 Apr 2008 16:00 CST

On March 6, the Texas Workforce Commission released its annual revision to its Texas payroll employment estimates. The new data incorporate information from the broader (but delayed) Covered Employment and Wages survey into the payroll data.

"Globalization and Monetary Policy: An Introduction"

Mon, 21 Apr 2008 9:40 CST

Greater openness has become an almost universal feature of modern, developed economies. This paper develops a workhorse international model, and explores the role of standard monetary policy rules applied to an open economy.

Houston Economic Update

Mon, 21 Apr 2008 9:40 CST

Two of the most important underpinnings of Houston's economy, national and global growth, have both pulled back significantly. Evidence is mixed on whether Houston has also slowed.

Opportunity Knocks: Selling Our Services to the World--2007 Annual Report

Thu, 17 Apr 2008 12:50 CST

Americans can maintain good jobs and high living standards by exporting their services to the world, according to the Federal Reserve Bank of Dallas' 2007 annual report essay.

Selling Our Services to the World (With an Ode to Chicago)--Speech by Richard W. Fisher

Thu, 17 Apr 2008 12:45 CST

"The United States, like Chicago, can continue to prosper only if it faces economic change head-on, choosing to compete rather than retreat, seeking out new opportunities in a globalizing economy, where goods, services, money and ideas flow freely across international borders."

Dallas Beige Book

Wed, 16 Apr 2008 13:00 CST

The Federal Reserve System's latest Beige Book survey has been released. The Dallas Beige Book, along with a link to the national summary and reports from other Federal Reserve Districts, is available online.

Vehicle Currency

Tues, 15 Apr 2008 15:18 CST

Explores the nature of the efficiency gains arising from a vehicle currency and shows how this depends on the total number of currencies in existence, the size of the vehicle currency economy and the monetary policy followed by the vehicle currency's government.

Country Portfolios in Open Economy Macro Models

Tues, 15 Apr 2008 15:18 CST

This paper develops a simple approximation method for computing equilibrium portfolios in dynamic general equilibrium open economy macro models.

The Dynamics of Economic Functions: Modelling and Forecasting the Yield Curve

Tues, 15 Apr 2008 15:17 CST

The class of Functional Signal plus Noise models is introduced that provides a new, general method for modelling and forecasting time series of economic functions.

How Should Central Banks Define Price Stability?

Tues, 15 Apr 2008 15:16 CST

Considers whether central banks should target broad or narrow measures of inflation and whether they should target headline or core measure of inflation. It also addresses whether central banks should define price stability as prevailing at some positive measured rate of inflation.

Accounting for Persistence and Volatility of Good-level Real Exchange Rates: The Role of Sticky Information

Tues, 15 Apr 2008 15:15 CST

Volatile and persistent real exchange rates are observed not only in aggregate series but also on the individual good level data.

Accounting for Persistence and Volatility of Good-level Real Exchange Rates: The Role of Sticky Information

Tues, 15 Apr 2008 15:15 CST

Volatile and persistent real exchange rates are observed not only in aggregate series but also on the individual good level data.

The Egocentricity of the Present (Prefaced by the Tale of Ruth and Emma): speech by Richard W. Fisher

Wed, 9 Apr 2008 12:40 CST

"In building the bridge to restore financial order and efficiency, my primary interest is to do the minimum necessary to get the job done. And no more. In so doing, my hope is that we restore the long-term faith of the millions of risk takers who make our economy so mighty."

International economic update

Fri, 4 Apr 2008 16:12 CST

Recent evidence suggests that the overall outlook for global growth has deteriorated. Activity in most economies is decelerating, and, at the same time, inflationary pressures are rising. The U.S. continues to face increased threats to growth, and other economies are not immune, especially the euro zone and the United Kingdom.

National economic update

Fri, 4 Apr 2008 16:12 CST

Weakening Real Economy, Moderating Inflation--Data released over the past few weeks are mixed. The national economy has weakened further, but inflationary pressures appear to be moderating.

Regional economic update

Fri, 4 Apr 2008 16:12 CST

The Texas economy continues to slow. Economic growth is still moderate, but there is more evidence that some business leaders are expecting further weakness and engaging in reinforcing actions, such as cutting capital spending, paring down inventories and reducing or freezing employment.

Intellectual Property Protection in a Globalizing Era

Mon, 31 Mar 2008 12:12 CST

The latest Economic Letter reports that globalization may reduce incentives to enact strong patent laws in many countries, and international agreements may help achieve the right level of intellectual property protection.

Texas Manufacturing Outlook Survey

Mon, 31 Mar 2008 9:30 CST

Texas manufacturing activity remained sluggish in March, according to the 112 business executives who responded to the Texas Manufacturing Outlook Survey. Although indicators for current conditions improved modestly, they continued to be weak. Indexes for general business conditions worsened.

Hot Stats: Texas State and Metro Economic Indicators

Fri, 28 Mar 2008 18:30 CST

The Texas economy expanded at a measured pace in January, following solid growth in 2007. The Dallas Fed's Texas Business-Cycle Index--a gauge of the region's current economic conditions--increased at a 3.2 percent annualized rate during the month, somewhat less than the 3.9 percent pace recorded in 2007.

Trimmed Mean PCE Inflation Rate

Fri, 28 Mar 2008 08:50 CST

The trimmed mean PCE inflation rate for February was an annualized 1.2 percent. According to the BEA, the overall PCE inflation rate for February was 1.5 percent, annualized, while the inflation rate for PCE excluding food and energy was 1.3 percent.

Why Stop There? Mexican Migration to the U.S. Border Region

Tues, 10 Mar 2008 13:25 CST

New Working Paper: The transformation of the U.S. border economy since the 1980s provides a fascinating backdrop to explore how migration to the U.S-side of the Mexican border has changed vis-à-vis migration to the U.S. interior. Some long-standing patterns of border migrants remained unchanged during this period while others underwent drastic changes.

Comments on Stylized Facts of Globalization and World Inflation—Speech by Richard W. Fisher

Fri, 7 Mar 2008 7:00 CST

"In today's world, where investors can move their funds instantly from one currency to another to avoid depreciation, the price central bankers pay for high inflation is much higher than in the past. Understanding this, you can see why I am a steadfast inflation-fighting owl."

Latest Dallas Beige Book

Wed, 5 Mar 2008 13:05 CST

Balancing Inflation and Growth--Speech by Richard W. Fisher

Tues, 4 Mar 2008 12:00 CST

"At present, we simply do not have the ability to adequately account for the impact globalization has on the gearing of our domestic economy. Absent that capacity, we cannot, in my opinion, confidently assume that slower U.S. economic growth will quell U.S. inflation and, more important, keep inflationary expectations anchored."

Texas Finds Cover from U.S. Economic Storm

Fri, 29 Feb 2008 11:30 CST

The Texas economy enjoys advantages that will help it avoid a recession.

Hot Housing Market Catching Cold in Texas

Fri, 29 Feb 2008 11:30 CST

A weakening Texas housing market still remains healthier than the national average.

Delving More Deeply into Globalization

Fri, 29 Feb 2008 11:30 CST

Mark A. Wynne, director of the Globalization and Monetary Policy Institute at the Dallas Fed, discusses the institute's goal of better understanding monetary policy in an open economy.

Trimmed Mean PCE Inflation Rate for December 2007

Fri, 29 Feb 2008 9:45 CST

The trimmed mean PCE inflation rate for January was an annualized 3.4 percent. According to the BEA, the overall PCE inflation rate for January was 4.5 percent, annualized, while the inflation rate for PCE excluding food and energy was 3.7 percent.

Economic Letter

Tues, 26 Feb 2008 13:30 CST

"Accounting for the Bond-Yield Conundrum" uses a macro-finance model to examine the phenomenon of falling long-term interest rates during periods of tightening in monetary policy.

Texas Manufacturing Outlook Survey

Mon, 25 Feb 2008 9:30 CST

Texas manufacturing activity was still soft in February, according to the 113 business executives who responded to the Texas Manufacturing Outlook Survey. Most indicators for current conditions remained positive but weakened. There was some optimism, however, with improvement in the capital expenditures and company outlook indexes.

Staff Papers: "The Globalization of U.S. Business Investment"

Mon, 25 Feb 2008 9:30 CST

The latest issue of Staff Papers documents some key facts about foreign direct investment flows by U.S. businesses overseas and foreign businesses in the United States. This article shows how the pattern of flows has evolved, examines the sources and destination of these flows, documents associated employment and productivity gains, and shows how investment-related sales compare with traditional exports.

International Economic Update

Mon, 25 Feb 2008 9:30 CST

Global output is expanding at healthy, but noticeably declining, rates. Evidence of slower credit and real activity growth is materializing throughout the industrialized world. Headline inflation rates have picked up significantly across the globe, due in large part to energy and food prices. Core inflation has risen by about 50 base points in most industrialized countries over the past two years.

Banco de Mexico Governor Ortiz Joins Dallas Fed's Globalization Institute Advisory Board

Thurs, 14 Feb 2008 16:00 CST

Banco de Mexico governor Guillermo Ortiz has joined the advisory board for the Globalization and Monetary Policy Institute at the Federal Reserve Bank of Dallas. (In English and Spanish).

Latest Vista--Corpus Christi: An Economy in Transition

Thurs, 14 Feb 2008 16:00 CST

Although port activity and tourism remain important components of the Corpus Christi economy, some sectors are declining in importance, such as agriculture, oil and gas, petrochemicals and military, while others are expanding, such as health care, alternative energy and education.

Ag Survey

Fri, 8 Feb 2008 14:45 CST

The fourth quarter survey saw continued optimism in the Eleventh District agricultural sector. Above-average rainfall and favorable growing conditions in the fall significantly improved crop yields in most parts of the district. A near-record cotton crop coupled with high agricultural commodity prices boosted farm incomes in 2007. Bankers reported that this boom was not only enabling producers to pay off their debts but also encouraging them to invest in new farm equipment.

Hot Stats: Texas State and Metro Economic Indicators

Fri, 8 Feb 2008 14:45 CST

The Texas economy expanded moderately in December. The Dallas Fed's Texas Business-Cycle Index rose at an annualized pace of 2.5 percent, following revised growth of 2.8 percent in November. In 2007 the index rose at a rate of 4 percent, a slight deceleration from 2006's 4.5 percent pace.

Defending Central Bank Independence—Speech by Richard W. Fisher

Thurs, 7 Feb 2008 12:00 CST

"Monetary policy acts with a lag. I liken it to a good single malt whiskey or perhaps truly great tequila: It takes time before you feel its full effect. The Fed has to be very careful now to add just the right amount of stimulus to the punchbowl without mixing in the potential to juice up inflation once the effect of the new punch kicks in."

Oil Prices Rise to Near-Record Levels, Then Fall

Tues, 5 Feb 2008 10:00 CST

Oil prices rose sharply in early January, with the benchmark West Texas Intermediate crude oil almost reaching the $100 barrier. Escalating tension in the Middle East, fears of disruptions in Nigeria, a further slippage in the U.S. dollar (in early January), and a growing realization that oil resource development will likely not match the growth in oil demand accounted for the upward pressure on oil prices

Homeownership and Affordable Lending: A Case Study

Tues, 5 Feb 2008 10:00 CST

This issue of Banking and Community Perspectives highlights the importance of sound lending practices to help low- and moderate-income households preserve their assets. It presents the results of a study that examined the impact of the city of Dallas' Mortgage Assistance Program on participants and neighborhoods.

Hot Stats: Texas High-Tech Employment

Fri, 1 Feb 2008 14:45 CST

Texas' high-tech sector remained on track in the fourth quarter of 2007. Texas high-tech employment increased by 2,400 jobs (3.2 percent), according to the data released by the Texas Workforce Commission, with seasonal and other adjustments made by the Dallas Fed. The fourth-quarter increase took 2007 gains in the sector to 3,100 jobs (1 percent).

Trimmed Mean PCE Inflation Rate for December 2007

Thurs, 31 Jan 2008 10:00 CST

The trimmed mean PCE inflation rate for December was an annualized 2.4 percent. According to the BEA, the overall PCE inflation rate for December was 3.0 percent, annualized, while the inflation rate for PCE excluding food and energy was 2.8 percent.

Migration, Trade, and Development Conference Proceedings

Tues, 29 Jan 2008 16:20 CST

The papers presented at the 2006 conference, "Migration, Trade, and Development," examine the various dimensions in which trade and migration affect economic development, whether individually or jointly, through economic or political forces.

Texas Manufacturing Sluggish

Mon, 28 Jan 2008 9:30 CST

Texas manufacturing activity remained soft in January, according to the 113 business executives who responded to the Texas Manufacturing Outlook Survey. After a seasonal dip in December, rebounds occurred in nearly all current indicators, including production, capacity utilization, volume of new orders and shipments. Upward price and wage pressures persist. Overall company business indicators suggest softening growth. General business conditions indexes improved slightly--but they remain negative.

Houston economy clicking along

Fri, 18 Jan 2008 15:30 CST

The Houston economy is probably on track to add 100,000 new jobs in 2007, once all the revisions are complete. The local economy continues to click along, with the one notable exception of housing.

Challenges for Monetary Policy in a Globalized Economy--Speech by Richard W. Fisher

Thurs, 17 Jan 2008 11:30:00 CST

"...the FOMC does not intend to just squat and wait should economic data and sound risk management signal that monetary accommodation is required."

Latest Dallas Beige Book

Tue, 16 Jan 2008 13:08:00 CST

Inequality and Growth: Challenges to the Old Orthodoxy

Mon, 15 Jan 2008 9:44:00 CST

Income inequality is more detrimental to economic growth in countries where markets function poorly, according to the January issue of the Federal Reserve Bank of Dallas' Economic Letter.

Hot Stats: Texas State and Metro Economic Indicators

Wed, 9 Jan 2008 15:44:00 CST

The Texas economy moved ahead at a moderate pace in November. The Dallas Fed's Texas Business-Cycle Index rose at an annualized rate of 2.7 percent, following revised growth of 2.9 percent in October. Year-to-date, the index has increased at a rate of 4 percent, slightly below last year's 4.5 percent base.

e-Perspectives

Wed, 9 Jan 2008 14:30:00 CST

This issue highlights popular Community Reinvestment Act websites of interest to bankers, community groups and others engaged in the CRA process. Also in this issue, the new Community Development Decision Flow Chart helps lenders determine what qualifies for CRA purposes

Term Auction Facility

Fri, 4 Jan 2008 13:30:00 CST

The Federal Reserve will conduct two auctions of 28-day credit through its Term Auction Facility (TAF) in January. It will offer $30 billion in the auction to be held on Monday, January 14 and $30 billion in the auction to be held on Monday, January 28.

Term Auction Facility

Fri, 4 Jan 2008 13:30:00 CST

Texas Manufacturing Weakens

Mon, 31 Dec 2007 9:30:00 CST

Texas manufacturing activity continued to soften in December, according to the 115 business executives who responded to the Texas Manufacturing Outlook Survey. Nearly all current indicators fell further into negative territory, continuing a decline that began in early spring. However, the indexes aren’t seasonally adjusted, and the latest readings may—in part at least—reflect a pattern of December weakness evident in the past two years.

Revising the Texas Index of Leading Indicators

Fri, 28 Dec 2007 9:55:00 CST

Job growth in Texas will probably slow, but a recession over the next three to nine months is unlikely.

Globalizing Texas: Direct Investment and Business Cycles

Fri, 28 Dec 2007 9:55:00 CST

Texas has seen a faster trend toward foreign direct investment (FDI) in the service sector than the rest of the nation, despite an overall downturn in incoming foreign fixed assets.

Globalizing Texas: Direct Investment and Business Cycles

Fri, 28 Dec 2007 9:55:00 CST

Texas has seen a faster trend toward foreign direct investment (FDI) in the service sector than the rest of the nation, despite an overall downturn in incoming foreign fixed assets.

On the Record: A Conversation with Herb Kelleher

Fri, 28 Dec 2007 9:55:00 CST

Southwest Airlines executive chairman Herb Kelleher, a member of the Dallas Fed board, gives his assessment of the economy.

Spotlight: Short-Timers Hint at Trends in Permanent Jobs

Fri, 28 Dec 2007 9:55:00 CST

An increase in hiring of temporary employees in Texas could portend growth in the state's labor market.

From Complacency to Crisis: Financial Risk Taking in the Early 21st Century

Fri, 28 Dec 2007 9:45:00 CST

The abrupt transition from high to cautious levels of financial risk-taking will present a challenge to short- and medium-term economic growth, according to the December issue of Economic Letter. However, an eventual return to more sustainable risk taking should be healthy for long-term economic growth.

Trimmed Mean PCE Inflation Rate for November

Fri, 21 Dec 2007 9:45:00 CST

The trimmed mean PCE inflation rate for November was an annualized 3.2 percent. According to the BEA, the overall PCE inflation rate for November was 7.1 percent, annualized, while the inflation rate for PCE excluding food and energy was 2.8 percent.

National Update: Economy Slowing After a Strong Third Quarter

Fri, 14 Dec 2007 16:15:00 CST

Real GDP growth in the third quarter was revised up from 3.9 to 4.9 percent, with 0.6 and 0.4 percentage points of the improvement owing to upward revisions in inventory investment and net exports, respectively. All major categories posted gains with the exception of residential investment, whose declines intensified and cut more than one percentage point from overall GDP growth.

Regional Update: Texas Growth Slows but Remains Healthy

Fri, 14 Dec 2007 14:15:00 CST

The Texas economy has weakened in recent weeks, but Texas is still performing better than the nation. Employment growth has slowed since the first half of 2007. Manufacturing and housing are the most fragile sectors, but growth has moderated in other areas as well.

Hot Stats: Texas State and Metro Economic Indicators

Mon, 3 Dec 2007 11:45:00 CST

The Texas economy maintained its expansion in October. The Dallas Fed's Texas Business-Cycle Index rose at an annualized rate of 3.2 percent. Year-to-date, the index has increased at a pace of 4.3 percent, just under last year's 4.5 percent.

Trimmed Mean PCE Inflation Rate for October

Fri, 30 Nov 2007 9:45:00 CST

The trimmed mean PCE inflation rate for October was an annualized 2.3 percent. According to the BEA, the overall PCE inflation rate for October was 3.4 percent, annualized, while the inflation rate for PCE excluding food and energy was 2.1 percent.

Dallas Beige Book

Thu, 29 Nov 2007 9:30:00 CST

Ag Survey

Thu, 29 Nov 2007 9:30:00 CST

The third quarter survey indicated further improvement in Eleventh District agricultural conditions. Above-average rainfall spurred pasture growth and boosted yields of corn and wheat. However, the excessive precipitation resulted in yield losses in Central and Coastal Texas.

Texas Manufacturing Slows

Tues, 27 Nov 2007 9:30:00 CST

Texas manufacturing weakened further in November, according to the 114 business executives who responded to the Texas Manufacturing Outlook Survey. Nearly all current production and general business condition indicators fell into negative territory, continuing a slowing trend that began in early spring. Most indexes for activity six months from now are positive but lower, suggesting producers expect growth to remain soft.

Hot Stats: Texas Exports

Tues, 20 Nov 2007 17:00:00 CST

Real Texas exports picked up in third quarter 2007, rising a solid 5.5 percent following growth of 2.4 percent in the second quarter. The increase helped offset the 3.3 percent dip recorded in the first quarter, and Texas exports are 7.5 percent above last year's levels.

Banking and Community Perspectives:Preserving Homeownership

Mon, 19 Nov 2007 14:35:00 CST

This issue highlights the research and innovative solutions presented at the recent Dallas Fed conference "Preserving Homeownership: Addressing Foreclosure," which examined the data trends, patterns and potential impact of foreclosure.

Revised Texas State and Metro Economic Indicators

Fri, 16 Nov 2007 14:35:00 CST

Texas Business-Cycle Index, an aggregate measure of the region's current economic activity, rose at an annualized rate of 3.3 percent, following revised growth of 3.6 percent in August. Year-to-date, the index has increased at a rate of 4.4 percent, just under last year's 4.5 percent.

Economic Letter: The Rise and Fall of Subprime Mortgages

Thu, 15 Nov 2007 9:35:00 CST

The housing market's adjustment to tighter lending standards is likely to be prolonged, according to "The Rise and Fall of Subprime Mortgages." This article examines how financial innovations and overoptimistic views of default risk led to an easing of credit standards, which, in turn, sparked a sharp rise in subprime lending and increased housing activity earlier in the decade.

The U.S. Economy, Globalization and Inflation Measurement (With Brief References to Brawls, Beer and Bikinis)--Speech by Richard W. Fisher

Wed, 14 Nov 2007 7:00:00 CST

"Our job has been made more complicated by globalization—the freer flow of goods, services, money, ideas and people across national borders. Its present incarnation owes a great deal to the revolution in information technology. Faster, cheaper and better communications are breaking down barriers to international business and knitting the world's economies closer together faster than Skippy could outsmart a pack of hungry dingoes."

Hot Stats: Texas High-Tech Employment

Tues, 13 Nov 2007 15:25:00 CST

Texas' high-tech sector enjoyed positive growth in third quarter 2007, as job creation in high-tech services outpaced employment losses in high-tech manufacturing. According to figures released by the Texas Workforce Commission, with seasonal and other adjustments made by the Dallas Fed, the state's high-tech industry gained 2,900 jobs—a 3.9 percent annualized increase.

A Conversation with Milton Friedman

Thu, 8 Nov 2007 9:25:00 CST

The Federal Reserve Bank of Dallas today released a wide-ranging interview between Nobel Laureate economist Milton Friedman and Dallas Fed president and CEO Richard W. Fisher.

FRB Dallas-Adjusted Texas Employment Data Revised Up

Wed, 7 Nov 2007 13:30:00 CST

The Texas Workforce Commission has published revised first quarter 2007 and new second quarter 2007 Covered Employment and Wages data, allowing the Dallas Fed to update its FRB Dallas-adjusted payroll employment series. The updated data show that payroll employment growth during the first half of 2007 was stronger than had been previously reported.

National Update: Moderate Economic Growth, Subsiding Inflation

Mon, 5 Nov 2007 13:30:00 CST

Data released over the past few weeks suggest that overall economic growth remains moderate and inflationary pressures are likely to continue to subside. Downside risks to both household and business spending appear somewhat less troubling.

Regional Update: Texas Continues Moderate Expansion

Mon, 5 Nov 2007 13:30:00 CST

The Texas economy expanded moderately in recent weeks but showed continued signs of deceleration. There was considerable weakness in manufacturing and construction even as services and energy sectors remained pockets of strength. Private-sector job growth strengthened in the third quarter.

Quarterly Energy Update: Soaring Oil Prices Dominate Energy Markets

Thu, 1 Nov 2007 13:00:00 CST

Oil prices have been elevated and rising throughout 2007, climbing from $50 in mid-January to over $90 in mid-October, an astounding 86 percent gain. Oil futures prices remain in fairly sharp backwardation, which means that the market expects presently high oil prices to fall in the long term. Although this has been the case through many price spikes this year, long-term oil price expectations today have strengthened by almost 15 percent since mid-August.

Hot Stats--Texas State and Metro Economic Indicators

Thu, 1 Nov 2007 11:00:00 CST

The Texas economy's pace of expansion continued to moderate in September. The Dallas Fed's Texas Business-Cycle Index, an aggregate measure of the region's current economic activity, rose at an annualized rate of 2.5 percent, following revised growth of 2.7 percent in August. Year-to-date, the index has increased an annualized 3.5 percent, a deceleration from last year's 4.4 percent pace.

Trimmed Mean PCE Inflation Rate

Thu, 1 Nov 2007 9:00:00 CST

The trimmed mean PCE inflation rate for September was an annualized 2.4 percent. According to the BEA, the overall PCE inflation rate for September was 2.7 percent, annualized, while the inflation rate for PCE excluding food and energy was 2.3 percent.