The growth suggests that the economy is in a reasonable place, but we also want to make sure that policy is in a place that ...

State-level unemployment claims can provide a real-time measure of national labor market conditions and the overall state of the economy. A rapid and widespread buildup of stress in state labor ...

Information the San Francisco Fed collects from businesses and community sources for the Beige Book provides timely insights ...

Both the magnitude and the pace of monetary policy tightening in the euro area during 2022-23 were historically large and ...

Zheng Liu is a vice president and director of the Center for Pacific Basin Studies in the Economic Research Department of the Federal Reserve Bank of San Francisco.

John G. Fernald is an Economist Emeritus and former senior policy advisor in the Economic Research Department of the Federal Reserve Bank of San Francisco, and a professor of economics at INSEAD.

Brief summaries of SF Fed economic research that explain in reader-friendly terms what our work means for the people we serve.

Adam Shapiro is a vice president in the Economic Research Department of the Federal Reserve Bank of San Francisco.

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 ...

Michael Bauer is a senior research advisor and Director of the Center for Monetary Research in the Economic Research Department of the Federal Reserve Bank of San Francisco and research fellow at CEPR ...

The European Central Bank recently raised its target interest rate for the first time since the 2008 financial crisis. When compared with a simple interest rate rule, this rate hike appears consistent ...