In rapidly evolving crises, such as the COVID-19 pandemic, indexes of financial conditions based on high-frequency data give policymakers more timely information than better-known monthly or quarterly indicators, according the Richmond Fed’s latest Economic Brief. The research summary discusses four high-frequency indexes that have become much more important in the past nine months.
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As part of our nation’s central bank, the Richmond Fed is one of 12 regional Reserve Banks working together with the Board of Governors to support a healthy economy and deliver on our mission to foster economic stability and strength. We connect with community and business leaders across the Fifth Federal Reserve District — including the Carolinas, District of Columbia, Maryland, Virginia, and most of West Virginia — to monitor economic conditions, address issues facing our communities, and share this information with monetary and financial policymakers. We also work with banks to ensure they are operating safely and soundly, supply financial institutions with currency that’s fit for distribution, and provide a safe and efficient way to transfer funds through our nation’s payments system.
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