Blog Archive

CFE Analysis


The housing crisis from a decade ago is fading from consciousness for many Americans. But the ill effects of it are still apparent, particularly for those who bought homes in the years from 2005 to 2007. They paid high prices, and many mortgages had ominous terms that made repayment highly unlikely. The problem is most […]

CFE Analysis | Macro

A Surprising – And Ominous? — Boom

There has been much talk about the death of bricks-and-mortar retail, which traditionally hires hundreds of thousands of temporary workers in November and December for the Christmas rush. With more and more business being conducted online, it stood to reason that general merchandise stores — the Macy’s and Targets of the world — would be […]

CFE Analysis | Macro

Zero Bound

The outlook for growth in employment and corporate earnings over the next few years is headed down. The problem is not what the Federal Reserve will do, or what a Democratic (or Republican) Congress is likely to do, or the possibility of a mushrooming trade war. It is the unsustainable nature of what has caused […]


What did We Learn from Recent Monetary Policy Performance?

A growing chorus of commentators are now issuing warnings about additional Fed tightening in light of the flattening Treasury yield curve. Despite clear evidence that job growth in the U.S. is running well ahead of a sustainable pace, low wage and price inflation, for many suggest no need to firm overnight interest rates. Exhibits A […]


A higher loyalty

After over a decade of first-rate stewardship, Jon Faust is resigning from his post as CFE Director to become senior special advisor to the newly appointed Federal Reserve Board Chair, Jerome Powell. Ordinarily one protests the exit of an esteemed colleague. However, in his new role, Jon will be immersed in debates of the utmost […]


Women and careers in economics and finance

Friday, May 4th, 2018, the CFE together with the Economics Department launched the inaugural meeting of the “Women and Careers in Economics and Finance” lunch series. Our first speaker in the series was Meghan McGee, Partner at the Baltimore-based private-equity firm Camden Partners. Meghan first delved into the details of what exactly a private equity […]

CFE | Commentary

More jobs than people to fill them?

We may have reached a point where there are simply not enough people who want to work to fill all the available jobs in the United States. The Bureau of Labor Statistics reported today that in March there were 6,550,000 unfilled jobs in the country, on a seasonally adjusted basis. It reported there were 6,585,000 […]

CFE | Commentary

Good and bad news in the jobs report

Here’s the good news: The unemployment rate for young adult men is now lower than it was on the eve of the financial crisis a decade ago. Here’s the bad news: So is the employment rate. The explanation for those seemingly contradictory facts is that there has been a significant rise in the number of […]