Mary C. Daly, president and CEO of the Federal Reserve Bank of San Francisco, will participate in a panel discussion at the 2026 Hoover Institution Monetary Policy Conference. She will be joined by ...

Working papers are academic research by SF Fed economists and affiliates intended for publication in scholarly journals. This section contains working papers on monetary economics and macro-finance ...

The Center for Monetary Research provides recurring updates to interactive data series on specific topics in monetary economics and macro-finance. Data sets on this page include interest rate ...

The San Francisco Fed’s latest Advisory Council Observations offer a real‑time look at how businesses, households, and ...

AI automation typically requires task-level fixed costs, such as model training or fine-tuning. We develop a quantitative task-based framework in which automation depends jointly on relative marginal ...

Survey responses from chief financial officers and other financial decisionmakers yield a new measure of inflation ...

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

This data series is part of the Center for Monetary Research. The U.S. Monetary Policy Event-Study Database (USMPD) collects high-frequency changes of interest rates and asset prices around Federal ...

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 ...

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 ...