COVID-19 exposes mortgage market vulnerabilities that led to volatility, Fed intervention
The COVID-19-induced financial market shock in March 2020 significantly disrupted the market for agency mortgage-backed securities.
February 02, 2021
Pandemic economic lifeline: taxes on consumption, labor that fund stay-at-home subsidies
Stay-at-home subsidies funded by taxes on consumption and labor—activities that contribute to viral transmission—can simultaneously reduce deaths and increase output.
January 12, 2021
Does homeownership provide an escape from high rent burdens?
Many first-time homebuyers—often with little savings and vulnerable to economic shocks—obtain their mortgages through the Federal Housing Administration (FHA) loan program. Often, these borrowers are moving from apartments and have presumably weighed the costs of renting versus owning.
January 05, 2021
COVID-19 resurgence across Texas depresses economic growth
Texas job growth has slowed after new daily COVID-19 cases in the state began surging in mid-October.
December 24, 2020
Southwest Economy, Fourth Quarter 2020
COVID-19 Fuels Sudden, Surging Demand for Suburban Housing
Pandemic-related actions have helped propel a sudden, large shift from renting to homeownership and a concurrent movement to the suburbs and larger homes.
December 21, 2020
Southwest Economy, Fourth Quarter 2020
Pandemic Unemployment Benefits Provided Much-Needed Fiscal Support
Enhanced unemployment insurance benefits implemented in response to the COVID-19 pandemic have helped buttress spending among the unemployed.
December 21, 2020
Southwest Economy, Fourth Quarter 2020
Go Figure: Loan Delinquencies Start to Climb After Falling with Stimulus and Relief
COVID-19 stimulus and loan relief helped Texas borrowers avoid falling behind on loan payments in 2020's second quarter.
December 21, 2020
Global Perspectives: Mark Carney on leading the Bank of England, climate change, COVID-19 and community involvement
Mark Carney, special envoy for climate action and finance at the United Nations, discussed climate change and central banks, COVID-19 and central banking, the complementary roles of monetary and fiscal policy, and community engagement with Dallas Fed President Robert S. Kaplan.
December 01, 2020
Global Perspectives: John B. Taylor on the Taylor Rule, accommodative policy, low interest rates and expanded central bank mandates
Taylor and Dallas Fed President Robert S. Kaplan discussed the origins of the Taylor Rule, the dangers of holding monetary policy too accommodative for too long, the distributional effects of low interest rates and expanded central bank mandates.
November 24, 2020
Impact of COVID-19 on small service firms clouds Texas jobs estimates
The 2020 downturn has differed from past recessions in many ways, particularly affecting high-contact service industries that contain a large number of independent businesses with few employees.
November 17, 2020