Bank lending policies have begun to shift toward easier standards, according to the quarterly Federal Reserve Senior Loan Officer Survey. Data covering the latter half of July were reported Monday, August 16; participants, 57 domestic [...]
Introducing
Carol Stone, CBE
in:Our Authors
Carol Stone, CBE came to Haver Analytics in 2003 following more than 35 years as a financial market economist at major Wall Street financial institutions, most especially Merrill Lynch and Nomura Securities. She has broad experience in analysis and forecasting of flow-of-funds accounts, the federal budget and Federal Reserve operations. At Nomura Securites, among other duties, she developed various indicator forecasting tools and edited a daily global publication produced in London and New York for readers in Tokyo. At Haver Analytics, Carol is a member of the Research Department, aiding database managers with research and documentation efforts, as well as posting commentary on select economic reports. In addition, she conducts Ways-of-the-World, a blog on economic issues for an Episcopal-Church-affiliated website, The Geranium Farm. During her career, Carol served as an officer of the Money Marketeers and the Downtown Economists Club. She has a PhD from NYU's Stern School of Business. She lives in Brooklyn, New York, and has a weekend home on Long Island.
Publications by Carol Stone, CBE
Global| Aug 17 2010U.S. Industrial Production Rose 1.0% in July
Industrial production surprised for July with a 1.0% surge, compared with a consensus expectation of 0.5% and a downward revised -0.1% in June. Output is up 7.7% from a year ago. The manufacturing sector gained 1.1% in the month, [...]
- Global| Aug 17 2010
Producer Prices Turn Up in July, But Subgroups Decidedly Mixed
The producer price index for finished goods turned back higher in July, gaining 0.2% after June's 0.5% drop. The July rise pushed the year-on-year performance to a sharp 4.2% increase, compared with 2.7% registered in June. Both the [...]
- Global| Aug 16 2010
Foreign Investors Increase Net Purchases of U.S. Securities in June, But Amount Is Restrained
Foreign participation in U.S. capital markets was relatively modest in June, according to the monthly "TIC" data reported this morning from the U.S. Treasury. Foreign investors were net purchasers of $33.9 billion in long-term [...]
- Global| Aug 13 2010
U.S. Business Inventories Pick Up Slightly in June
Business inventories continued a halting recovery in June. All together, they rose 0.3%, and May's increase was revised from 0.1% to 0.2%. As visible in the first graph, this hardly constitutes a "recovery" from their total decline [...]
The financial account portion of yesterday's balance of payments report shows sizable capital flows both in and out of the United States in Q1. U.S. assets abroad increased on net by $300.8 billion in the quarter, following a tiny [...]
- Global| Jun 17 2010
U.S. Current Account Deficit Widens in Q1 After Annual Revisions Reduce Earlier Periods; Some Definition Changes, Too
The U.S. current account deficit widened in Q1 to $109.0 billion from a revised $100.9 billion in Q4 2009. The year 2009 was revised from $419.9 billion to $378.4 billion. Relative to GDP, the Q1 number is 3.0%, the widest gap since [...]
- Global| Jun 16 2010
New Accounting Rules Shock MBS and ABS Data
The FASB's new accounting rules 166 and 167 on the use of off-balance sheet accounting for securitized debt issues took effect at the beginning of 2010 for financial institutions with a calendar year fiscal year. From a data user's [...]
- Global| Mar 18 2010
U.S. Current Account Deficit Widens Modestly; Flows of Goods, Services and Capital Show Signs of Recovery
The U.S. current account deficit widened for a second quarter in Q4 to $115.6 billion from $102.3 in Q3. The result was a bit narrower, though than consensus expectations, which called for $118.5 billion. As a percentage of GDP, the [...]
- Global| Mar 11 2010
U.S. Flow of Funds Shows Outright Contraction of Business Credit; Other Sectors Pay Down except Government
U.S. nonfinancial corporations paid down debt in Q4 2009, according to the Federal Reserve's Flow-of-Funds data reported today, March 11. The contraction was minimal, $8.2 billion at a seasonally adjusted annual rate, but it is the [...]
- Global| Feb 19 2010
The Fed De-Eases Bank Lending Terms
Yesterday, February 18, the Federal Reserve Board announced several changes to the extraordinary liquidity measures it instituted to help alleviate the recent financial crisis. Just last week, Tom Moeller described here how extensive [...]
- Global| Jan 14 2010
U.S. Business Inventories Show a Second Monthly Gain
Business inventories grew again in November, expanding for a second month by 0.4%. These two gains followed 13 consecutive monthly declines. As in October, the November increase occurred at wholesalers and manufacturers; retailers [...]
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