Congressional Research Service Reports - 305 Matching Results

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Evaluating the Current Stance of Monetary Policy Using a Taylor Rule

Description: Oversight of the Federal Reserve's (Fed's) monetary policy decisions rests with Congress. But oversight is encumbered by the absence of a straightforward relationship between interest rates and economic performance. Further, the Fed's policy decisions are discretionary, meaning there is no objective, transparent “yardstick” for evaluating their decisions. A simple rule of thumb guide to monetary policy decisions called a “Taylor rule” is an intuitive way to judge actual policy against some objective, albeit simplistic, ideal. Taylor rules prescribe a federal funds target based on inflation and the output gap (i.e., the difference between actual gross domestic product [GDP] and potential GDP) and can be adjusted to reflect a variety of policy goals.
Date: January 30, 2012
Creator: Labonte, Marc
Partner: UNT Libraries Government Documents Department

Millennium Challenge Corporation

Description: This report discusses the Millennium Challenge Corporation (MCC), which provides economic assistance through a competitive selection process to developing nations that are pursuing political and economic reforms in three areas: ruling justly, investing in people, and fostering economic freedom. This report also discusses several concerns related to MCC implementation, including the level of funding to support MCC programs.
Date: November 16, 2010
Creator: Tarnoff, Curt
Partner: UNT Libraries Government Documents Department

Millennium Challenge Corporation

Description: This report discusses the Millennium Challenge Corporation (MCC), which provides economic assistance through a competitive selection process to developing nations that are pursuing political and economic reforms in three areas: ruling justly, investing in people, and fostering economic freedom. This report also discusses several concerns related to MCC implementation, including the level of funding to support MCC programs.
Date: May 3, 2011
Creator: Tarnoff, Curt
Partner: UNT Libraries Government Documents Department

Millennium Challenge Corporation

Description: This report discusses the Millennium Challenge Corporation (MCC), which provides economic assistance through a competitive selection process to developing nations that are pursuing political and economic reforms in three areas: ruling justly, investing in people, and fostering economic freedom. This report also discusses several concerns related to MCC implementation, including the level of funding to support MCC programs.
Date: May 3, 2011
Creator: Tarnoff, Curt
Partner: UNT Libraries Government Documents Department

Long-Term Unemployment and Recessions

Description: This report discusses the recession that began in the United States in December 2007 and officially ended in June 2009 and how this recession affected employment rates. This report analyzes the trend in long-term unemployment over the postwar period and offers explanations for its unusually high incidence during the most recent postwar recession. It compares the individual, job, and household characteristics of the long-term unemployed during the latest recession (2007-2009) with the long-term unemployed at the end of the two previous recessions (1990-1991 and 2001).
Date: November 22, 2010
Creator: Mayer, Gerald & Levine, Linda
Partner: UNT Libraries Government Documents Department

Economic Recovery: Sustaining U.S. Economic Growth in a Post-Crisis Economy

Description: A look at how Congress' has been proactive in helping the economy recover after the 2008-2009 recession, as well as how it can help to keep recessions at bay in the future. Issues regards to this are typical post-war recessions, insufficient pace of private spending, and long-term debt problem.
Date: May 17, 2012
Creator: Elwell, Craig K.
Partner: UNT Libraries Government Documents Department

Economic Recovery: Sustaining U.S. Economic Growth in a Post-Crisis Economy

Description: This report looks at how Congress has been proactive in helping the economy recover after the 2008-2009 recession, as well as how it can help to keep recessions at bay in the future. Issues include typical post-war recessions, insufficient pace of private spending, and the long-term debt problem.
Date: December 2, 2010
Creator: Elwell, Craig K.
Partner: UNT Libraries Government Documents Department

China's Economic Rise: History, Trends, Challenges, and Implications for the United States

Description: This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise for the United States.
Date: June 14, 2015
Creator: Morrison, Wayne M.
Partner: UNT Libraries Government Documents Department

Structure and Functions of the Federal Reserve System

Description: This report examines the structure and operations of the major components of the Federal Reserve System and provides an overview of congressional oversight activities. The report identifies the provisions of P.L. 111-203 (the Dodd-Frank Wall Street Reform and Consumer Protection Act) that affect the structure and operations of the system.
Date: November 10, 2010
Creator: Smale, Pauline
Partner: UNT Libraries Government Documents Department

Puerto Rico's Current Fiscal Challenges: In Brief

Description: This report discusses the current state of Puerto Rico's public finances. Puerto Rico faces several fiscal hurdles in 2015. Concerns regarding the sustainability of Puerto Rico's public finances have intensified over the past year, despite several measures taken by the island's government to reduce spending, increase revenues, and restructure its obligations.
Date: July 7, 2015
Creator: Austin, D. A.
Partner: UNT Libraries Government Documents Department

The Bush Tax Cuts and the Economy

Description: The George W. Bush Administration enacted a series of tax cuts through the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003. This report examines these tax cuts within the context of the current and long-term economic environment.
Date: December 10, 2010
Creator: Hungerford, Thomas L.
Partner: UNT Libraries Government Documents Department

The European Union's Response to the 2007-2009 Financial Crisis

Description: This report examines the EU responses to the financial crisis through changes to the financial regulatory structure at the EU level as well as the member country level. The countries examined are Germany and the United Kingdom, which have single financial regulators; the Netherlands, which has a twin peaks regulatory structure; and Spain, which has a functional structure.
Date: August 13, 2010
Creator: Eubanks, Walter W.
Partner: UNT Libraries Government Documents Department

Double-Dip Recession: Previous Experience and Current Prospect

Description: This report discusses factors suggesting an increased risk of double-dip recession. It discusses other factors that suggest economic recovery will continue. The U.S. historical experience with double-dip recessions is also presented. It examines the role of deleveraging by households and businesses in the aftermath of the recent financial crisis in shaping the likely pace of economic recovery. The report concludes with a look at current economic projections.
Date: December 3, 2010
Creator: Elwell, Craig K.
Partner: UNT Libraries Government Documents Department

"Living Wills": The Legal Regime for Constructing Resolution Plans for Certain Financial Institutions

Description: One of the chief objectives of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA) is to promote financial stability within the United States, without the need for emergency governmental assistance to troubled firms. To achieve this goal, the DFA establishes a heightened regulatory regime for certain, generally large "covered financial institutions." A pillar of this heightened regulatory regime is that each covered financial institution must submit "credible" plans to the Board of Governors of the Federal Reserve System (FRB) and the Federal Deposit Insurance Corporation (FDIC) detailing how the firm could be quickly resolved in an orderly fashion under the U.S. Bankruptcy Code or other applicable insolvency regime "in the event of a material financial distress or failure." These resolution plans are commonly referred to as "living wills." This report reviews the legal structure of the DFA's living will requirements, pursuant to both DFA Section 165(d) and the regulations and guidance issued jointly by the FRB and FDIC, and explains the August 2014 joint announcement of the FRB and FDIC regarding the inadequacies of the 2013 living wills filed by the 11 largest, most complex financial institutions in the country. This report also examines some of the steps that these institutions might voluntarily take.
Date: December 4, 2014
Creator: Carpenter, David H.
Partner: UNT Libraries Government Documents Department

Financial Turmoil: Federal Reserve Policy Responses

Description: The Federal Reserve (Fed) has been central in the policy response to the financial turmoil that began in August 2007. It has sharply increased reserves to the banking system through open market operations and lowered the federal funds rate and discount rate on several occasions. This report reviews the Fed's actions since August 2007 and analyzes the policy issues raised by those actions.
Date: July 15, 2010
Creator: Labonte, Marc
Partner: UNT Libraries Government Documents Department

Financial Regulatory Reform: Systemic Risk and the Federal Reserve

Description: This report defines the potential duties and responsibilities of a systemic risk regulator, relating those duties to events that potentially contributed to the recent crisis. It then identifies the powers that would need to be given to a regulator to perform those duties, and compares those powers and responsibilities to the Fed's existing powers and responsibilities. It discusses advantages and disadvantages of giving those responsibilities to the Fed or the executive branch. It also includes a brief overview of major elements of the Administration's proposal, H.R. 4173, which passed the House on December 11, 2009, and S. 3217, which passed the Senate on May 20, 2010,2 that involve the Fed.
Date: May 26, 2010
Creator: Labonte, Marc
Partner: UNT Libraries Government Documents Department

Financing the U.S. Trade Deficit

Description: This report provides an overview of the U.S. balance of payments, an explanation of the broader role of capital flows in the U.S. economy, an explanation of how the country finances its trade deficit or a trade surplus, and the implications for Congress and the country of the large inflows of capital from abroad.
Date: June 22, 2010
Creator: Jackson, James K.
Partner: UNT Libraries Government Documents Department