Our Mission

To promote low inflation, full employment and financial stability, and provide services to financial institutions and the Treasury

SF Fed Blog

Globe with Currency

Reports of the Death of Cash are Greatly Exaggerated

More payments are being made with a click, a tap, or a swipe, and it feels like we’re carrying fewer notes and coins than ever before. Many believe that the days of cash are numbered, but what do the data say?

Read more on SF Fed Blog

Economic Letter

What’s Down with Inflation?

Posted November 27, 2017

After 8 years of economic recovery, inflation remains below target. Dissecting the underlying price data by spending category reveals that low inflation reflects prices that are relatively insensitive to economic conditions. Notably, health-care price increases that have been held down by cuts to Medicare payment growth have helped moderate inflation. Further slow growth in health-care prices is likely to remain a drag on inflation.

View past Economic Letters

In the News

From the President

Monetary Policy and the Economic Outlook: A Fine Balancing Act

November 29, 2017

Remarks at the 54th Annual Economic Forecast Luncheon

Phoenix, Arizona


Economic Outlook

November 13, 2017

Adam Shapiro, research advisor at the Federal Reserve Bank of San Francisco, stated his views on the current economy and the outlook as of November 9, 2017.

From the Board

Beige Book

November 29, 2017

Summary of Commentary on Current Economic Conditions by Federal Reserve District

Laurel Gourd regularly pulls off Community Development events without a hitch, organizing gatherings that help banks, nonprofits, and others coordinate their efforts to address the needs of low-income communities.

Work for the Fed

Work for the Fed

We like to say we work for the Fed, not at the Fed. That’s because the SF Fed is not just another employer or government agency. Here, you have the opportunity to become part of an important public service institution whose work touches lives across the globe.

Find a Job