We develop a non-parametric filter that identifies sustained directional runs in shocks to monthly inflation—a concept we ...

SF President Mary C. Daly will join Fed Vice Chair Michelle Bowman, Fed Governor Christopher Waller, and Chicago Fed ...

Community banks are financial institutions with less than $10 billion in assets that serve businesses and consumers throughout the country, in both rural and urban areas. Community banks are leading ...

Monetary policy refers to the actions a central bank, such as the Federal Reserve, takes to achieve national economic goals by influencing the availability and cost of money and credit. Changes in ...

Adam Shapiro, vice president at the Federal Reserve Bank of San Francisco, shared views on the current economy and the outlook from the Economic Research Department as of April 16, 2026. Oil markets ...

Economic activity in the Twelfth District was somewhat subdued but largely stable during the mid-February through March ...

We use novel data from a survey of nearly 750 corporate executives to study the effects of artificial intelligence (AI) on productivity and the workforce. We document substantial heterogeneity in AI ...

Financing needs related to AI data center investments are likely to be large and persistent. While the overall economics of such investments remains a topic of much debate, the duration supply ...

CPI Inflation Contributions from Goods and Services updates data on how much different types of goods and services contribute to changes in consumer price index (CPI) inflation. This tool is intended ...

PCE Inflation Contributions from Goods and Services provides monthly updates on price changes for the broad categories of goods and services that U.S. households consume, as measured by personal ...

Good morning and thank you for inviting me to southern Utah. I am delighted to be here and look forward to a lively conversation.1 The Federal Reserve has been in the news these days. There are ...