Monetary Policy


The Graying of Household Debt in the U.S.

Economic Insights — Thanks to an aging population, continuously falling interest rates, and the Great Recession, more debt is held by older Americans today than ever before.

Featured Work

Monetary Policy Report: Using Rules for Benchmarking, March 2021

This special report highlights ongoing work to benchmark the stance of monetary policy using a range of policy rules that are widely employed in studies of monetary economics.

Monetary Policy

Working Paper

Measuring Disagreement in Probabilistic and Density Forecasts

WP 21-03 – In this paper, we introduce and study a class of disagreement measures for probability distribution forecasts based on the Wasserstein metric.

Announcement Regarding the Monetary Policy Report

Due to rapidly changing economic conditions stemming from the coronavirus outbreak, the Federal Reserve Bank of Philadelphia will not issue its March 2020 Monetary Policy Report.