Federal Fiscal Policy

The U.S. Capitol building is seen in a long exposure at sunrise on the day of the U.S. midterm election as voters go to the polls across the country to elect 33 U.S. senators and all 435 members of the U.S. House of Representatives in Washington, U.S., November 6, 2018. REUTERS/Jim Bourg - RC1E75D3B580

Podcast Episode

Preparing for the next recession

Jay Shambaugh, Heather Boushey, and Fred Dews

Friday, May 24, 2019

An employee shows fifty-euro notes in a bank in Sarajevo in this March 19, 2012 file photo. The European Central Bank took the ultimate policy leap on on January 22, 2015 launching a government bond-buying programme which will pump hundreds of billions of new money into a sagging euro zone economy. The Europen Central Bank (ECB) said it would buy government bonds from this March until the end of September 2016 despite opposition from Germany's Bundesbank and concerns in Berlin that it could allow spendthrift countries to slacken economic reforms. Together with existing schemes to buy private debt and funnel hundreds of billions of euros in cheap loans to banks, the new quantitative easing programme will pump 60 billion euros a month into the economy, ECB President Mario Draghi said. Picture taken March 19, 2012. REUTERS/Dado Ruvic (BOSNIA AND HERZEGOVINA - Tags: BUSINESS) - LR2EB1M16MZJN

Monetary Policy

In an uncertain financial system, how do we make macroprudential policy work?

Wednesday, May 15, 2019

photo by sharon mccutcheon on unsplash

The Federal Budget

Five myths about federal debt

William G. Gale

Thursday, May 2, 2019

Hutchins Fiscal Impact Measure

Interactive

Hutchins Center Fiscal Impact Measure

Friday, April 26, 2019

Reports

A worker arrives at his office in the Canary Wharf business district in London February 26, 2014. London's financial services sector created 25 percent more jobs in February than a year ago, new data has shown, indicating the industry may be recovering from the restructuring and redundancies prompted by the financial crisis. After a strong January, the City hiring market showed no signs of slowing down last month, with 3,220 new jobs created, compared with 2,575 added in February 2013, according to financial services recruiter Astbury Marsden. The data suggests London's banks and financial services companies are returning to growth after slashing thousands of jobs in the face of a lengthy recession and a series of industry scandals that followed the financial crisis. Picture taken February 26, 2014. REUTERS/Eddie Keogh (BRITAIN - Tags: BUSINESS EMPLOYMENT TPX IMAGES OF THE DAY)ATTENTION EDITORS: PICTURE 03 OF 25 FOR PACKAGE 'CITY OF LONDON - LIFE IN THE SQUARE MILE'. TO FIND ALL IMAGES SEARCH 'RECRUITER KEOGH' - GM1EA320PLO01

Regulatory Policy

Can fintech increase lending? How courts are undermining financial inclusion

Peter Conti-Brown

Tuesday, April 16, 2019

U.S. flag flies over a statue of George Washington outside Federal Hall National Memorial, as the partial U.S. government shutdown continues in New York

Report

Fiscal therapy: 12 framing facts and what they mean

William G. Gale

Wednesday, April 3, 2019

A general view of the U.S. Capitol building in Washington February 28, 2013. Positions hardened on Wednesday between U.S. President Barack Obama and Republican congressional leaders over the budget crisis even as they arranged to hold last-ditch talks to prevent harsh automatic spending cuts beginning this week. Looking resigned to the $85 billion in "sequestration" cuts starting on Friday, government agencies began reducing costs and spelling out to employees how furloughs will work. REUTERS/Jason Reed (UNITED STATES - Tags: POLITICS BUSINESS) - GM1E92S1U0N01

U.S. Economy

If not now, when? New estimates of the federal budget outlook

Alan Auerbach, William G. Gale, and Aaron Krupkin

Monday, February 11, 2019

A man walks away from the U.S Treasury Department in Washington, U.S., August 6, 2018. REUTERS/Brian Snyder - RC1FD03EA500

Report

Optimizing the maturity structure of U.S. Treasury debt: A model-based framework

Terry Belton, Kristopher Dawsey, David Greenlaw, Huachen Li, Srini Ramaswamy, and Brian Sack

Wednesday, October 10, 2018

The Danish central bank, also known as Danish Nationalbank, is seen in Copenhagen, January 22, 2015. The Danish central bank cut its key policy rate on Thursday for the second time this week to defend the crown's peg to the euro after the European Central Bank unveiled a stimulus package that weakened the single currency. REUTERS/Fabian Bimmer (DENMARK - Tags: BUSINESS) - GM1EB1N02TA01

Regulatory Policy

From the Great Moderation to the Great Recession and beyond: How did we get here and what lessons have we learned?

Friday, September 7, 2018

Blog Posts

via unsplash

Up Front

Estimating the impact of Fiscal Therapy proposals

William G. Gale

Thursday, April 25, 2019

People walk by the U.S. Capitol building in Washington, U.S., February 8, 2018. REUTERS/ Leah Millis - RC13737E70C0

FixGov

How does a divided government impact the congressional budget process?

Molly E. Reynolds

Thursday, February 28, 2019

Marijuana is seen for sale at Harborside, one of California's largest and oldest dispensaries of medical marijuana, on the first day of legalized recreational marijuana sales in Oakland, California, U.S., January 1, 2018. REUTERS/Elijah Nouvelage - RC14812827E0

Up Front

An easy fix could give the marijuana industry access to banking

Thursday, January 31, 2019

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Events

Fiscal therapy: Curing America’s debt addiction and investing in the future

10:00 AM - 12:00 PM EDT

The lamppost theory: Why economic policy so often comes up short

10:30 AM - 12:00 PM EDT

The fiscal-monetary mix in an era of low interest rates

10:00 AM - 12:15 PM EDT

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Related Books

The $13 Trillion Question

Edited by David Wessel

2015

To the Edge

By Philip A. Wallach

2015

Transpacific Rebalancing

Edited by Barry P. Bosworth and Masahiro Kawai

2015

Multimedia

Treasury Secretary Steven Mnuchin sits under a display of the U.S. national debt as he testifies to the House Financial Services Committee on "The Annual Report of the Financial Stability Oversight Council" on Capitol Hill in Washington, U.S., February 6, 2018. REUTERS/Joshua Roberts - RC131089F510

Podcast Episode

How to cure America’s debt addiction (and invest in the future)

William G. Gale and David Wessel

Friday, April 5, 2019

Editions of the Brookings Papers on Economic Activity are pictured

Brookings Now

Bernanke on the causes of the financial crisis, questioning how we measure potential economic output, and more new research in economics

Thursday, September 13, 2018

John C. Williams speaks at an event at the Brookings Institution.

Brookings Now

As John C. Williams joins the New York Fed, a look at his contributions to Brookings

Tuesday, April 3, 2018

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