Codirectors
Emi Nakamura is a Chancellor’s Professor of Economics at the University of California, Berkeley. Her research interests center on monetary and fiscal policy, macroeconomic measurement, and the determinants of business cycles. She has been an NBER affiliate since 2007.
Jón Steinsson is a Chancellor’s Professor of Economics at the University of California, Berkeley. His research interests include price rigidity, the effects of monetary and fiscal policies on economic activity, and monetary policy design. He has been an NBER affiliate since 2007.
Featured Program Content
Banks face a tradeoff between lending out as many of their assets as possible to maximize interest revenue and keeping enough liquid assets on hand to...
US inflation was relatively low and stable for three decades beginning in the 1990s. In sharp contrast, it has been relatively high since 2021. Many...
Between March 7, 2022, and March 6, 2023, the Federal Reserve increased the federal funds rate by nearly 4.5 percentage points. This led to a $2.2...