The Rising Cost of Homeowners Insurance and Its Impact on Housing Affordability
Release Date: 08/21/2024
A New Way of Detecting Recessions
Speaking of the Economy
John O'Trakoun and Adam Scavette discuss their new approach to gauging the health of the economy and the likelihood that a recession is taking place before other indicators would detect it. O'Trakoun is a senior policy economist at the Federal Reserve Bank of Richmond and Scavette is a community development economic advisor at the Federal Reserve Bank of Philadelphia. Full transcript and related links:
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What Shapes Productivity Growth?
Speaking of the Economy
Pierre-Daniel Sarte and Thomas Lubik discuss their research on the components of productivity growth, how that growth has varied over time and across industries, and how much it will benefit from the use of artificial intelligence. Sarte and Lubik are senior advisors in the Research Department at the Federal Reserve Bank of Richmond. Full transcript and related links:
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The Economic Toll of Mental Illness
Speaking of the Economy
Job Boerma shares a model for how poor mental health affects the economic decisions of consumers and the economy as a whole. Boerma, an assistant professor in economics at the University of Wisconsin-Madison, presented his research at a recent CORE Week at the Richmond Fed. Full transcript and related links:
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Has the Wave of New Businesses Crested?
Speaking of the Economy
Chen Yeh provides an update on the longevity and broader impacts of the surge in start-ups during the COVID-19 pandemic. Yeh is a senior economist at the Federal Reserve Bank of Richmond. Full transcript and related links:
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Hot Topics in Electronic Payments
Speaking of the Economy
Vanity McDaniel and Jennifer Stadler provide a snapshot of how consumers pay for goods and services today and reflect on the latest technology trends in the U.S. payments system, including contactless payments, digital wallets, "buy now, pay later," instant payments, and the use of artificial intelligence. McDaniel is a senior payments business advisor at the Federal Reserve Bank of Richmond and Stadler is executive vice president of marketing and membership at PaymentsFirst. Full transcript and related links:
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Looking Ahead at 2025
Speaking of the Economy
Renee Haltom and Sonya Waddell share what recent surveys and conversations with Fifth District contacts reveal about the expectations of businesses for their own prospects and the economy as a whole, as well as firms' concerns about inflation, labor markets, and other potential issues in 2025. Haltom is a regional executive and vice president and Waddell is a vice president at the Federal Reserve Bank of Richmond., Full transcript and related links:
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The Flow of Capital Into Rural Communities
Speaking of the Economy
Emily Corcoran and Jen Giovannitti discuss the demand and supply factors that influence the financing of community development in rural areas, as well as the issues that impede the flow of capital into the places that need it. Corcoran is a senior manager of regional and community analysis at the Federal Reserve Bank of Richmond and Giovannitti is president of the Claude Worthington Benedum Foundation. Full transcript and related links:
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When Countries Borrow, The Strength of Their Institutions Matters
Speaking of the Economy
Marina Azzimonti discusses the rise in the cost of borrowing for countries following the COVID-19 pandemic and the broader implications of this trend for emerging countries, especially those that don't have strong governmental institutions. Azzimonti is a senior economist and research advisor at the Federal Reserve Bank of Richmond. Full transcript and related links:
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The Ongoing Recovery From Pandemic-Era Learning Losses
Speaking of the Economy
Amanda Neitzel and Santiago Pinto report on the progress of students after the disruptions of the COVID-19 pandemic, differences in the persistence of learning losses, and efforts to remediate these losses. Neitzel is an assistant research professor at the Center for Research and Reform in Education at Johns Hopkins University, while Pinto is a senior economist and policy advisor at the Federal Reserve Bank of Richmond. Full transcript and related links:
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Keeping Dollars Flowing Around the Globe
Speaking of the Economy
Ricardo Reis discusses how swap lines have supported the flow of U.S. currency into global financial markets to meet their liquidity needs and the dollar's prominence in those markets, especially during the 2007-08 financial crisis and the COVID-19 pandemic. Reis is an economics professor at the London School of Economics and a long-term consultant at the Federal Reserve Bank of Richmond. Full transcript and related links:
info_outlineSierra Stoney outlines the factors that have recently driven up premiums for homeowners insurance, adding pricing pressure to housing markets. Stoney is a senior research analyst on the Regional and Community Analysis team at the Richmond Fed.
Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2024/speaking_2024_08_21_homeowners_insurance