U.S. Economic News
September 30, 2019
U.S. News
The Wall Street Journal reports that New York Fed leader John Williams is under pressure to explain why the central bank failed to foresee the cash shortage that lead to a spike in repo rates and pushed the effective federal funds rate outside its target range for the first time since the financial crisis. More money market turbulence is expected this week as the third quarter ends and many banks refrain from lending in order to show strong balance sheets, putting additional pressure on the repo market. WSJ
According to the Washington Post, new data from the U.S. Census Bureau shows that more than 1 in 20 Americans now usually work from home, with telework overtaking public transit as the third most popular commuting method in the country. The propensity to work from home increases with age, and there is evidence that U.S. workers may be willing to retire later if their work arrangements are more flexible. WaPo