A new data interactive and a recent webinar from the SF Fed Community Engagement and Analysis team shed light on ...

Thomas M. Mertens, vice president at the Federal Reserve Bank of San Francisco, stated his views on the current economy and the outlook as of July 17, 2025.

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

In 2024, the San Francisco Fed and the Federal Reserve System Innovation Office launched the EmergingTech Economic Research Network (EERN) to support a better understanding of how new technologies ...

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

Extreme heat decreases labor productivity in sectors like construction, where much work occurs outdoors. Because construction is an important component of investment, lost productivity today will slow ...

Climate change describes the current trend toward higher average global temperatures and accompanying environmental shifts such as rising sea levels and more severe storms, floods, droughts, and heat ...

Monetary policy is often regarded as having only temporary effects on the economy, moderating the expansions and contractions that make up the business cycle. However, it is possible for monetary ...

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

This paper explores how often U.S. consumers spent and held cash during the 2017 Diary of Consumer Payment Choice survey. Data from 2017 show that cash continues to be the most frequently used payment ...

The extent to which either supply or demand factors drive inflation has important implications for economic policy. I propose a framework to decompose inflation into supply- and demand-driven ...