Economic activity in the Twelfth District slowed slightly during the January through mid-February reporting period. Overall ...

Congratulations to our very own Òscar Jordà for being newly elected as a Fellow of the Econometric Society. This ...

Mark M. Spiegel, senior policy adviser at the Federal Reserve Bank of San Francisco, shared views on the current economy and the outlook from the Economic Research Department as of February 26, 2026.

AI adoption and use are still evolving, and the technology itself is changing rapidly. What we know about AI and its impact on productivity growth and the economy remains uncertain. Transformations ...

News & Media How long before changes in the fed funds rate affect the economy?

How much should I change the fed funds rate in the game? - San Francisco Fed How much should I change the fed funds rate in the game?

News & Media In what ways is the game different than the real world?

How do changes in the fed funds rate affect the economy? - San Francisco Fed How do changes in the fed funds rate affect the economy?

News & Media In what ways is the game similar to the real world?

The Federal Reserve designed its Paycheck Protection Program Liquidity Facility to ease liquidity issues and support small business lending during the pandemic. The liquidity facility allowed banks to ...

Recent research suggests that generic large language models (LLMs) can match the accuracy of traditional methods when forecasting macroeconomic variables in pseudo out-of-sample settings generated via ...