Six faces of diverse people in a row.

Monetary Policy


Does Monetary Policy Affect Different Racial Groups Differently?

Research in Focus — Makoto Nakajima of the Philadelphia Fed developed a model to study how monetary policy affects different racial groups, and he considers its policy implications.

Regional Economics

Working Paper

The Effects of Racial Segregation on Intergenerational Mobility: Evidence from Historical Railroad Placement

WP 23-18 – This paper studies the impacts of citywide racial segregation on intergenerational mobility. Higher segregation reduces upward mobility for Black children from households across incomes and White children from low-income households.

A parking lot viewed from above.

Consumer Credit


Five Things to Know About Auto Loans

The Fifth Biennial Conference on Auto Lending brought together researchers, regulators, lenders, industry experts and others to examine the opportunities, risks and challenges of this key sector of the economy. This article outlines some of the key takeaways.

State Coincident Indexes

Monthly index of general economic conditions for each of the 50 states

Are Zero or Low Annual Percentage Rate (APR) Credit Promotions Beneficial to Credit Card Companies and Their Customers?

Research in Focus — Lukasz Drozd of the Philadelphia Fed and his coauthor study the implications of zero and low APR promotions for both lenders and consumers and consider the policy implications.

Fintech: Ask “What Next?” Not “What If?”

The Seventh Annual Fintech Conference | Philadelphia, PA





New Perspectives on Consumer Behavior in Credit and Payments Markets

Federal Reserve Bank of Philadelphia