Nearly 40% of small business respondents to the 2024 SBCS reported using or planning to use artificial intelligence (AI), ...

Economic activity in the Twelfth District was somewhat muted but largely stable during the mid-May through June reporting ...

Inflation expectations among businesses can affect how they set current prices. Firms’ expectations diverged from those of ...

A new indicator—the Inflation Shock Momentum Index—can help identify emerging inflationary or disinflationary pressures in ...

Local data presented by Federal Reserve Bank of San Francisco staff at the San Joaquin Valley Financial Empowerment convening ...

Firms frequently revise not only their expectations, but also how uncertain they feel about those expectations. Using the U.S ...

The new SF Fed Policy Calibration Tool is designed to help construct a monetary policy path that aligns with one’s views of the economy and policy objectives. Applying the tool to recent tariff ...

Academic research by SF Fed economists and affiliates intended for publication in scholarly journals. This section contains selected working papers on monetary economics and macro-finance topics that ...

The Inflation Shock Momentum Index (ISMI) updates data on coordinated directional pressure across the distribution of category-level inflation rates. This monthly indicator is intended to track ...

Mary C. Daly, president and CEO of the Federal Reserve Bank of San Francisco joined José Luis Escrivá, Governor of the Banco de España for a moderated conversation at the Banco de España’s conference, ...

The personal consumption expenditure price index (PCEPI) is one measure of U.S. inflation, tracking the change in prices of goods and services purchased by consumers throughout the economy. Of all the ...

Supply- and Demand-Driven PCE Inflation updates data on the contributions to personal consumption expenditures (PCE) inflation from supply-driven versus demand-driven components. This tool is intended ...