Federal Reserve Bank
of San Francisco Federal Reserve Bank
of San Francisco

Support­ing a Stronger Economy

Support­ing a Stronger Economy

The Federal Reserve Bank of San Francisco serves the nine western states, two territories, and commonwealth in the Federal Reserve’s Twelfth District. The Bank’s congressionally mandated mission is to promote maximum employment and stable prices, and support the nation’s financial and payment systems.

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An Introduction to the Federal Reserve Bank of San Francisco

Learn how we support the U.S. economy

Regional Insights

Learn how the Federal Reserve Bank of San Francisco utilizes regional data and local economic insights to help inform monetary policy.

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Regional Indicators

Regional data help measure the labor market, inflation, and other economic conditions across the Twelfth District.
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Current Conditions

The San Francisco Fed collects information from a broad range of sources for the Fed’s Beige Book, an economic report that assesses conditions and identifies emerging economic trends.
SF Fed Executive Vice President for Regional Engagement Laura Choi in the Twelfth District.

District Perspectives

The Regional Community and Economic Perspectives network provides the San Francisco Fed with real-time information about local economic conditions.
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On-the-ground Insights

Members of the San Francisco Fed’s advisory councils bring insights from businesses, financial institutions, and community organizations across the Twelfth District.
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Regionalism at the Fed

San Francisco Fed President and CEO Mary C. Daly explains how the Fed’s history and structure support its commitment to regionalism, independent thinking, and accountability to the public.

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Reserve Banks: Supporting a Strong Economy

Learn how the Federal Reserve Bank of San Francisco ensures that households and businesses have access to cash, safe and secure payments, and a stable banking system.

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Financial Services

The San Francisco Fed provides a wide range of financial services that promote a safe, sound, and stable banking and financial system.
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Cash Services

Throughout the Twelfth District, the San Francisco Fed ensures that cash is readily available to banks and credit unions to meet the public’s needs.
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Bank Supervision

Banking examiners work to understand banks’ operations, material risk, how well banks manage that risk, and whether banks have sufficient financial and managerial resources.
Map outlining each of the 12 Federal Reserve Districts.

Reserve Bank System

The Federal Reserve’s 12 Reserve Banks work to keep the U.S. economy strong – focusing on stable prices, full employment, safe banking, and secure payments.

Economic Research

Read the SF Fed’s most-viewed economic research publications to learn more about topics like inflation, employment, artificial intelligence, and other forces shaping the economy.

SF FedViews: Productivity-Driven Growth Confronts Elevated Inflation

The U.S. economy continues to expand at a solid pace, supported by stronger labor productivity. In this SF FedViews, Research Advisor Huiyu Li examines inflation, labor market conditions, market expectations of the policy rate, productivity, and the role of AI in the economy.

Financial Markets, Oil Prices, and Supply-Side Risks

Stock-bond correlations recently flipped to negative, suggesting that the perceived source of risk to the economy has shifted from demand concerns to supply shocks. The stock-oil correlation has also switched to negative, a stark change from the previous decade.

Job-Finding Anomalies of the Current Expansion

Recent declines in job finding rates for unemployed people have been led by prime-age and college-educated individuals while nonparticipant declines have been led by younger and less-educated individuals. These patterns differ from typical expansions, suggesting structural rather than cyclical forces.

Assessing a Medium-Run Natural Rate of Interest

A medium-run natural rate of interest can be a useful benchmark for monetary policy, offering a clearer signal than a long-run natural rate that ignores transitory economic shifts or a volatile and potentially mismeasured short-run natural rate.

In Focus

Fed research examines events, risks, and trends that materially affect the economy, which in turn affect the Fed’s dual mandate goals of stable prices and maximum employment.

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EmergingTech Economic Research Network

The EmergingTech Economic Research Network (EERN) provides a platform for sharing knowledge and research on emerging technologies and their economic impacts.
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Center for Monetary Research

The Center for Monetary Research promotes and fosters policy-relevant research in monetary economics and macro-finance.
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Data and Indicators

The Economic Research Department provides recurring updates of data sets related to its research.

Presidential News & Appearances

Fed’s Daly Discusses Outlook and AI Demand on Bloomberg Surveillance

August 20, 2026

Keynote Remarks by Mary C. Daly at the ESRI International Conference in Tokyo

August 5, 2026

A Conversation with Mary C. Daly and the Bank of Spain

July 2, 2026

Bloomberg Technology Summit 2026 with Mary C. Daly and Bloomberg’s Caroline Hyde

June 4, 2026

Federal Reserve Bank of San Francisco President Mary C. Daly engages with people and businesses in the Twelfth District and across the U.S. to better understand the economy and explain her thinking on monetary policy and the economic outlook.

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