SF Fed Blog
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Economic Letter Video: Productivity During and Since the Pandemic
Watch our Economic Letter video with Huiyu Li, research advisor, to learn more about productivity growth and its cyclical patterns.
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Economic Letter Video: How Much Has the Cooling Economy Reduced Inflation?
Watch our Economic Letter video with Adam Shapiro, Vice President, Economic Research, to learn more about our measurements of excess demand and its impacts on inflation.
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Immigration Surge Has Slowed: Updated Estimates of Net International Migration
Updated analysis using new and revised data suggests that the flow of immigrants into the United States slowed in late 2024. Despite this drop, recent immigration flows remain three times the historical average.
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A Deep Dive into the Drivers of CPI Inflation: Introducing Our New Data Page
Our new data page, CPI Inflation Contributions from Goods and Services, details the evolution of inflation using the consumer price index.
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Inflation Decline Continues to Support a Soft Landing Along the Nonlinear Phillips Curve
Fifteen months of new data since May 2023 continue to track closely along the path of a fitted nonlinear Phillips curve. This confirms earlier work that portrays the nonlinear empirical relationship between inflation and a particular measure of labor market slack: the ratio of the unemployment rate to the job vacancy rate.
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Listening to and Learning from our 2024 Interns
What is it like to be an intern at the SF Fed? We asked our interns and this is what we learned.
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Economic Letter Video: Pandemic-Era Liquid Wealth Is Running Dry
In our recent Economic Letter, “Pandemic-Era Liquid Wealth Is Running Dry,” we look at the accumulation of extra liquid wealth by U.S. households during the pandemic and its eventual depletion.
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Learn about SF Fed’s Research Associate program
We are now accepting applications for the San Francisco Fed’s two-year research associate (RA) program in Economic Research. Learn about the program and how RAs contribute to research and policy at the SF Fed.
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Economic Letter Video: Breakeven Employment Growth
In our recent Economic Letter on “Breakeven Employment Growth,” we look at population projections from the Census Bureau and the Congressional Budget Office to estimate the short-term and long-term trends in labor force growth. Naturally, as the working-age population increases, so does the labor force. Job growth needs to keep pace with this expanding labor […]
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Gauging the Stance of Monetary Policy on a Weekly Basis
How can we learn more from financial market perspectives about the stance of monetary policy? Expanding the SF Fed’s Proxy Rate to a weekly frequency provides detailed insights into how specific news and actions affect monetary policy tightness beyond what the federal funds rate level can show.