The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
EMBARGOED UNTIL 8:30 A.M U.S. Eastern Time, Wednesday, September 6, 2023 – OR UPON DELIVERY Perspectives on the Economy and Policymaking Susan M. Collins President & CEO September 6, 2023 Remarks to the New England Council Figure 1 | Real GDP and Real Personal Consumption Expenditures Source: Bureau of Economic Analysis/Haver Analytics, and author’s calculations. Note: Trend growth is assumed to be 1.8 percent at an annual rate per quarter for GDP and for consumption. Actuals are assumed at trend in 2017:Q3. Federal Reserve Bank of Boston | bostonfed.org Susan M. Collins | Remarks to the New England Council | September 6, 2023 2 Figure 2 | Personal Consumption Expenditures (PCE) Inflation A: PCE Price Indexes B: Monthly Core PCE Price Index Source: Bureau of Economic Analysis/Haver Analytics Federal Reserve Bank of Boston | bostonfed.org Susan M. Collins | Remarks to the New England Council | September 6, 2023 3 Figure 3 | Components of PCE Inflation A: PCE Core Goods B: PCE Housing Services C: PCE Core Services ex Housing Source: Bureau of Economic Analysis/Haver Analytics Federal Reserve Bank of Boston | bostonfed.org Susan M. Collins | Remarks to the New England Council | September 6, 2023 4 Figure 4 | Payroll Employment and Labor Force Participation A: Payroll Employment Source: Bureau of Labor Statistics/Haver Analytics and author’s calculations Note: Trend payroll employment is assumed to grow by 90,000 per month. Actual is assumed at trend in the third quarter of 2017. Federal Reserve Bank of Boston | bostonfed.org B: Prime-Age Labor Force Participation Source: Bureau of Labor Statistics/Haver Analytics Susan M. Collins | Remarks to the New England Council | September 6, 2023 5 Figure 5 | Unemployment Rates by Race and Education A: By Race – 16 Years and Over B: By Educational Attainment – 25 Years and Over Source: Bureau of Labor Statistics/Haver Analytics Federal Reserve Bank of Boston | bostonfed.org Susan M. Collins | Remarks to the New England Council | September 6, 2023 6 Figure 6 | Employment Cost Index Compensation of Private Industry Workers Source: Bureau of Labor Statistics/Haver Analytics Federal Reserve Bank of Boston | bostonfed.org Susan M. Collins | Remarks to the New England Council | September 6, 2023 7 Figure 7 | Federal Funds Target Rate Source: Federal Reserve Board/Haver Analytics Federal Reserve Bank of Boston | bostonfed.org Susan M. Collins | Remarks to the New England Council | September 6, 2023 8 Figure 8 | New England State Visits Federal Reserve Bank of Boston | bostonfed.org Susan M. Collins | Remarks to the New England Council | September 6, 2023 9