Southwest Economy, Third Quarter 2021
Federal support keeps state budgets (including Texas’) healthy amid tumult from COVID-19-induced economic ills
An unprecedented federal fiscal response to the COVID-19-induced recession in early 2020 helped prop up state government finances even among states whose tax and finance structures put them at particular risk during a downturn.
September 30, 2021
Southwest Economy, Third Quarter 2021
Technology displaced workers in pandemic; retraining must expand
Tamar Jacoby, president of Opportunity America, discusses the pandemic, worker mobility and job training.
September 30, 2021
Southwest Economy, Third Quarter 2021
Missteps along U.S.–Mexico border hinder movement of COVID-19 biomedical trade
While most activity in the Paso del Norte region is concentrated in automotive parts and electronic components, a cluster of biomedical manufacturers has emerged in Juárez in recent years.
September 30, 2021
Supply-chain woes, labor shortages and COVID-19 slow resilient Texas economy
Regional economic growth has slowed, though it remains robust by historical standards. While demand has improved from year-ago levels, supply-chain disruptions and labor shortages have limited output growth and pushed up wages and prices.
September 30, 2021
Treasury auctions during the pandemic: stresses but few surprises
The Treasury auction surprise indicator suggests that, despite a sharply negative reading in March 2020, Treasury auction outcomes have normalized.
August 31, 2021
Fed’s mortgage-backed securities purchases sought calm, accommodation during pandemic
We explore the Federal Reserve’s purchases of agency MBS—mortgage bonds guaranteed by Ginnie Mae, Fannie Mae and Freddie Mac—and related market dynamics during the pandemic, including why mortgage rates fell to historic lows.
August 26, 2021
Texas economy strongly expands despite supply-chain disruptions, hiring challenges
There has been strong upward pressure on prices and wages, though there were some signs of abatement in July. The hot housing market continued to push up apartment rents, housing prices and construction.
August 05, 2021
How much slack is left in the labor market?
Our analysis shows that viewing the level of employment through the lens of the employment-to-population ratio does not indicate considerable slack in the labor market.
July 06, 2021
What the trimmed mean says about future inflation: broadening price pressures ahead
As we look ahead to the rest of this year and into 2022, we expect that even as some of the extreme price increases responsible for the recent surge in headline inflation fade, a broader swath of goods and services will show meaningful price increases.
July 01, 2021
Investment in Mexico falls despite rise in remittances
Mexico has grown more dependent on foreign direct investment and remittances after total investment declined sharply for a fourth consecutive year in 2020.
June 29, 2021