The Differential Impact of the Federal Reserve Rate Hikes on National and Regional Employment Figures: Evidence from San Joaquin County

Autor: Annhenrie Campbell, Andrew Wagner, David H. Lindsay, Gökçe Soydemir
Rok vydání: 2018
Předmět:
Zdroj: Journal of Applied Business and Economics. 20
ISSN: 1499-691X
DOI: 10.33423/jabe.v20i9.219
Popis: This study examines the relationship between Federal Reserve interest rate actions and the employment growth rate in one county within California’s San Joaquin Valley, an economically distressed rural area. Since 2016, the Federal Reserve implemented a series of interest rate hikes and a “quantitative tightening” process to reduce the size of its balance sheet. Our data show that this tightening did slow the rate of employment growth nationally, but the rate slowed more in California and still more in San Joaquin County. This vulnerable region paid a high price for the desired contraction of monetary policy.
Databáze: OpenAIRE