SF Fed Blog
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Advisory Council Observations: February 2025
The members of the SF Fed’s Advisory Councils provide valuable perspectives from around the Twelfth District. In this edition of Advisory Council Observations, we share what we learned at our most recent council meetings.
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Economic Letter Video: Pandemic-Era Demand Squeezed Housing Inventories
Housing prices surged as housing inventories dropped to historically low levels in the first two years following the onset of the pandemic. In our Economic Letter, “Pandemic-Era Demand Squeezed Housing Inventories”, we find that the decline in housing inventories during these years was driven by an exceptionally high demand for housing rather than a low […]
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Regional Data Page Shows How Economy Varies Across the U.S.
How much variation in labor market conditions and inflation rates is there at the sub-national level? Our Regional Indicators page maps out labor market, price, and earnings data across the country.
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Economic Letter Countdown: Most Read Topics from 2024
With the new year fast approaching, here’s a countdown of our own to close out 2024. Check out the list of our most widely read FRBSF Economic Letter topics in 2024, featuring research and insights from SF Fed economists.
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Economic Letter Video: Productivity During and Since the Pandemic
Watch our Economic Letter video with Huiyu Li, research advisor, to learn more about productivity growth and its cyclical patterns.
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Economic Letter Video: How Much Has the Cooling Economy Reduced Inflation?
Watch our Economic Letter video with Adam Shapiro, Vice President, Economic Research, to learn more about our measurements of excess demand and its impacts on inflation.
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Immigration Surge Has Slowed: Updated Estimates of Net International Migration
Updated analysis using new and revised data suggests that the flow of immigrants into the United States slowed in late 2024. Despite this drop, recent immigration flows remain three times the historical average.
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A Deep Dive into the Drivers of CPI Inflation: Introducing Our New Data Page
Our new data page, CPI Inflation Contributions from Goods and Services, details the evolution of inflation using the consumer price index.
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Inflation Decline Continues to Support a Soft Landing Along the Nonlinear Phillips Curve
Fifteen months of new data since May 2023 continue to track closely along the path of a fitted nonlinear Phillips curve. This confirms earlier work that portrays the nonlinear empirical relationship between inflation and a particular measure of labor market slack: the ratio of the unemployment rate to the job vacancy rate.
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Listening to and Learning from our 2024 Interns
What is it like to be an intern at the SF Fed? We asked our interns and this is what we learned.