Survey responses from chief financial officers and other financial decisionmakers yield a new measure of inflation ...

We develop a non-parametric filter that identifies sustained directional runs in shocks to monthly inflation—a concept we ...

SF President Mary C. Daly will join Fed Vice Chair Michelle Bowman, Fed Governor Christopher Waller, and Chicago Fed ...

AI adoption and use are still evolving, and the technology itself is changing rapidly. What we know about AI and its impact on productivity growth and the economy remains uncertain. Transformations ...

Good afternoon and thank you for that kind introduction. And thank you to the Silicon Valley Leadership Group and to San Jose State University for having me here. I am looking forward to a great ...

The Federal Reserve designed its Paycheck Protection Program Liquidity Facility to ease liquidity issues and support small business lending during the pandemic. The liquidity facility allowed banks to ...

Understanding housing demand dynamics through two indicators, income growth and population growth, provides important insights into housing affordability. Research shows that average U.S. income ...

The pace of job growth cooled through mid-2025, while the unemployment rate rose relatively little. This seeming puzzle is explained by an even stepdown of labor supply and demand, meaning slowing ...

The change in the average U.S. tariff rate in 2025 was the largest in the modern era. One way to assess the effects of such a large shock on unemployment and inflation is by looking at data from ...

A decrease in oil supply drives up oil prices, which can raise unemployment and inflation. To counter adverse effects on inflation, a central bank may choose to increase its policy rate, potentially ...

Robert G. Valletta, associate director of research and senior vice president at the Federal Reserve Bank of San Francisco, shared views on the current economy and the outlook from the Economic ...

Recent shifts in immigration flows have lowered the estimates of net international migration into the United States. New data indicate that net migration will be close to half a million people in 2025 ...