The United States announced new, higher tariff rates this year. Tariffs can affect supply chains, investment, and firms’ ...

Recent shifts in immigration flows have lowered the estimates of net international migration into the United States. New data ...

Economic conditions in the Twelfth District were mixed during the October to mid-November reporting period. Employment levels ...

Robert G. Valletta, associate director of research and senior vice president at the Federal Reserve Bank of San Francisco, ...

To better understand the potential impacts of AI on the economy, this analysis assesses workers likely to be exposed to AI on ...

We show that the underlying source of inflation impacts financial market perceptions of the persistence of monetary policy ...

The SF Fed engages with businesses and communities across the region to gather real-time information on local economic ...

On the labor market, I don’t feel as confident we can get ahead of it. It’s vulnerable enough now that the risk is it’ll have ...

In this paper we exploit 150 years of tariff policy in the US and abroad to estimate the short-run effects of tariff shocks on macro aggregates. A careful review of the major changes in US tariff ...

In 2024, the San Francisco Fed and the Federal Reserve System Innovation Office launched the EmergingTech Economic Research ...

Findings reveal that 28% of the U.S. workforce—48.9 million people—live in a lower-income household (households with earnings below 80% of the typical household income in their community). More than ...

The U.S. economy has remained remarkably resilient this year, navigating uncertainty, changes in government policy, including tariffs, immigration, deregulation, and taxes, an AI-driven technology ...