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-- this post authored by Michael Lee and Antoine Martin Since the launch of Bitcoin and other first-generation cryptocurrencies, there has been extensive experimentation in the digital currency space. So far, however, digital currencies have yet to gain much ground as a means of payment. Is there a vacuum in the landscape of digital money and payments that central banks are naturally positioned to fill? In this post, Michael Lee and Antoine Martin, economists in the New York Fed’s Money and Payment Studies function, answer some questions regarding the concept of central bank digital currenc...

April 19, 2021 The stark economic realities and inequalities in the United States have been laid bare by the uneven impact of the COVID-19 pandemic. Some have made great financial gains, but losses have fallen heaviest on those who can least afford them, spotlighting the impact of racism on federal, state and local economic policies and outcomes. In the final webinar of the College of Arts and Sciences’ (A&S) yearlong series, “Racism in America,” panelists will focus on the many ways racism shapes economic policies, and how economic policies shape inequality in America. The April 27, 7 ...

From Liberty Street Economics-- this post authored by Florin Bilbiie, Gauti Eggertsson, Giorgio Primiceri, and Andrea Tambalotti

Share this article Share this article MILPITAS, Calif., April 13, 2021 /PRNewswire/ -- Worldwide sales of semiconductor manufacturing equipment surged 19% from $59.8 billion in 2019 to a new all-time high of $71.2 billion in 2020, SEMI, the industry association representing the global electronics product design and manufacturing supply chain, reported today. The data is now available in the Worldwide Semiconductor Equipment Market Statistics (WWSEMS) Report. For the first time, China claimed the largest market for new semiconductor equipment with sales growth of 39% to $18.72 billion. Sales...

-- this post authored by William J. Arnesen, Jacob Conway, and Matthew Plosser Since the depths of the Great Recession, household debt has increased from a low of $11 trillion in 2013 to more than $14 trillion in 2020 (see the New York Fed Household Debt and Credit Report). In this post, we examine how consumers’ repayment priorities have evolved over that time. Specifically, we seek to answer the following question: When consumers repay some but not all of their loans, which types do they choose to keep paying and which do they fall behind on? We use data from the New York Fed’s Consumer...