Author: Money Mechanics

Good morning. Thank you to the National Association for Business Economics for inviting me to speak with you today, and thank you to Jared for serving as our moderator.1 I am honored to share the stage with my former colleague Michael and my former student and research assistant Ging Cee, and I look forward to our discussion. In economics, artificial intelligence (AI) and productivity are among my favorite areas of inquiry. In the two decades before I became a Federal Reserve governor, I studied and contributed research to the economics of innovation and used machine learning in my research. In…

Concerns are mounting in the markets US tariffs and fears of AI-related disruption dominate the news Which stocks should you turn to in order to weather a period of market turmoil? Markets are turning more negative, with growing worries pushing US stock indices sharply lower at the start of the week on Monday. Over the weekend, President Donald Trump said global US tariffs would rise from 10% to 15%. At the same time, concerns about how artificial intelligence could disrupt several industries continued to grow. In tech news, Anthropic introduced a new tool that helps update old COBOL computer systems.…

At a meeting held in Galveston today, the Texas Windstorm Insurance Association (TWIA) Board agreed to only pursue purchase of the statutory minimum amount of reinsurance and catastrophe bonds needed to hit the 1-in-50 year funding level in 2026, opting not to buy any additional risk transfer to cover higher return period events.Recall that, legislative changes enacted in Texas halved the state mandated calculation for the amount of loss funding TWIA needs, from a 1-in-100 year minimum PML metric, down to a 1-in-50 year. These changes adjust the statutorily required funding level TWIA’s Board needs to prepare for, although the Board…

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. February 24, 2026 Minutes of the Board’s discount rate meetings on January 20 and 28, 2026 For release at 2:00 p.m. EST The Federal Reserve Board on Tuesday released the minutes from its recent meetings to review and determine the discount rates provided to depository institutions through the discount window. Today’s minutes cover the Board meetings that occurred on January 20 and 28, 2026. The Board’s process for setting the discount rate is…

One of the nice features of the USDi digital currency is that its path is known with certainty well in advance. The price of USDi is determined by the interpolated CPI index value compared with the value on the reference day (315.605). So, for example, we know that today’s[1] USDi value is 1.02681 because today’s CPI index value is 324.06614, and we know that because we know how to interpolate between the CPI prints from 3 months ago (324.122) and 2 months ago (324.054). Importantly, those numbers we are interpolating between are the Non-seasonally-adjusted CPI figures from December (released in…

This Week In A Nutshell: The White House’s response to the Supreme Court invalidating President Trump’s tariffs under the International Emergency Economic Powers Act and Tuesday’s State of the Union address will dominate this week. There’s little economic data coming down the pipeline. Upcoming Attractions   We are unlikely to see large market movements this week resulting from economic data or Fed news, though a slew of officials are slated to speak. Markets will likely be focused on further details from the White House on trade policy. Last week’s Supreme Court ruling was not surprising, but much is uncertain about…

Key Takeaways About 30% of households headed by someone age 50 don’t own their own home, so buying later in life is far more common than people assume.Owning a home at 50 can lock in housing costs before retirement, but draining retirement savings for a down payment often does more harm than good. Get personalized, AI-powered answers built on 27+ years of trusted expertise. If you’re 50 and wondering if you’ve missed the boat on homeownership, the data suggests you’re not quite the outlier you might believe. The median first-time homebuyer in the U.S. is now 40 years old, a…

(World Oil) – Fears of a global oil glut that had been expected to crater crude prices are fading amid resilient energy demand, according to Permian basin driller Diamondback Energy Inc. . As recently as mid-December, the prevailing outlook among respected oil watchers was that a huge surfeit was in the making that would send crude prices tumbling. Everyone from the International Energy Agency to prominent trading houses such as Trafigura Group were warning of dark days ahead as supplies overwhelmed demand. But the specter of too much crude has failed to materialize, Diamondback Chief Executive Officer Kaes Van’t Hof wrote in a letter to…

Key Takeaways No new federal stimulus payments have been approved for 2026, despite proposals like a $2,000 “tariff dividend.”Proposed payments tied to tariff revenues or government spending cuts are unlikely. Early in his administration, Trump created the Department of Government Efficiency, or DOGE, giving Tesla CEO Elon Musk a leading role in slashing government spending. Musk promoted the possibility of a “DOGE” dividend paid to Americans from savings generated by government spending cuts. Early figures suggested that those who pay federal income taxes would receive $5,000 each. But DOGE’s work resulted in far less savings than Musk projected, and after Musk…

Key Takeaways Seventy-eight percent of Americans say short-term debt can be a dating dealbreaker, with many drawing the line under $25,000.Most expect debt discussions within six months—and 60% would end a relationship over hidden debt.As marriage approaches, expectations shift toward repayment, contribution, and financial transparency. Get personalized, AI-powered answers built on 27+ years of trusted expertise. When people talk about relationship “red flags,” they usually mean communication issues or mismatched values. But for almost 8 in 10 Americans, debt now belongs on that list. In an economy where student loans, credit cards, and rising living costs are part of everyday…