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Economic Quarterly

Second Quarter 2015

Essays from our Annual Reports, Part II

John A. Weinberg

These essays address broad issues affecting the economic well-being of U.S. households. The topics largely deal with longer-run trends in the economy---phenomena that play out over longer intervals than the typical business cycle. As such, these issues shape the backdrop to the Federal Reserve's monetary policymaking. The broad trends discussed in these essays, as well as the public policy implications, fall mostly well outside the scope of monetary policy. But by identifying forces shaping the real economy, they help provide the context in which the Federal Reserve pursues its mandates for price stability and sustainable employment growth.


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