Financial markets—specifically derivatives—contain information about the range of probable future short-term interest rates.

Trade policy in the United States has been in flux in recent months. A theoretical analysis of recent increases in U.S.

Federal Reserve Bank of San Francisco President & CEO Mary C. Daly sat down with Bloomberg Television and Radio’s ...

New data suggest that net migration into the United States has dropped sharply in 2025 from its historical highs, falling ...

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

Economic activity in the Twelfth District was somewhat subdued but largely stable during the mid-May to June reporting period ...

Adam Shapiro is a vice president in the Economic Research Department of the Federal Reserve Bank of San Francisco.

Mary C. Daly is president and CEO of the Federal Reserve Bank of San Francisco.

Zheng Liu is a vice president and director of the Center for Pacific Basin Studies in the Economic Research Department of the Federal Reserve Bank of San Francisco.

Timely analysis on the current economy, economic developments, and the outlook.

Michael Bauer is a senior research advisor and Director of the Center for Monetary Research in the Economic Research Department of the Federal Reserve Bank of San Francisco and research fellow at CEPR ...

In 2009, strong growth in productivity allowed firms to lay off large numbers of workers while holding output relatively steady. This behavior threw a wrench into the long-standing relationship ...