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

The Federal Reserve designed its Paycheck Protection Program Liquidity Facility to ease liquidity issues and support small ...

While the risks to price stability versus maximum employment – the Fed's two congressionally mandated goals – look "relatively balanced,” Daly said, the ...

Using administrative data from France, we document that within the same detailed occupation, industry, and commuting zone, ...

Understanding housing demand dynamics through two indicators, income growth and population growth, provides important ...

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 ...

The United States announced new, higher tariff rates this year. Tariffs can affect supply chains, investment, and firms’ input costs, resulting in supply-side effects such as higher inflation and ...

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 ...

After a prolonged decline, U.S. inflation-adjusted interest rates have increased somewhat since the pandemic—possibly implying a higher new normal. As central banks attempt to tame the post-pandemic ...

Differences in prices for consumer goods and services across states have been increasing since the early 2010s. Those differences accelerated during the pandemic and the subsequent inflation surge.

Monetary policy is forward-looking and dependent on policymakers’ economic outlook. When the outlook is deemed highly uncertain, policymakers may put more weight on incoming data when making monetary ...