Econ Focus
Third Quarter 2022
In this issue: quantitative tightening, inflation and supply chain disruptions, rural areas paying newcomers, the teacher shortage, and more.
Cover Story
The Fed Is Shrinking Its Balance Sheet. What Does That Mean?
While the Fed has experience buying assets to respond to crises, questions remain around unwinding those actions
President's Message
A Shift in the Inflation Winds?
Following the Great Moderation — an era of low and stable inflation — the wind seems to have shifted. What does this mean for Fed policy?
Features
Paid to Relocate
States and communities are looking for remote workers as sources of economic growth. Is offering them cash and other perks a promising model of economic development?
Supply Chain Disruptions, Inflation, and the Fed
Today's inflationary snarls reflect both supply shocks and policy stimulus
Sections
Stephanie Schmitt-Grohé
Columbia University economist on inflation, capital controls, and finding research topics
The Economic History of the Shopping Mall — and Its Future (Yes, It Does Have One)
Malls have been a part of the American cultural and economic fabric for generations. How will they survive recessions, the rise of online shopping, and a pandemic?
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