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

SF Fed Blog

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Top 5 Economic Letters of 2016

Which economic issues got people talking in 2016? From wages to a low natural real rate of interest, check out the most viewed and shared SF Fed Economic Letters published since our 2015 roundup.

Economic Letter

How Does Business Dynamism Link to Productivity Growth?

Posted January 9, 2017

Declining business turnover could plausibly hamper innovation and contribute to lackluster economic growth. But the connection is more subtle. First, while business turnover has steadily declined over the past 35 years, aggregate productivity growth has not. Second, even when business starts were at historical highs, existing firms lost very little market share to new firms. This suggests that older firms are just as innovative as newcomers.

In the News

From the President

Looking Back, Looking Ahead

January 17, 2017

Presentation to the 2017 Economic Forecast

Sacramento, California


Economic Outlook

January 17, 2017

John Fernald, senior research advisor at the Federal Reserve Bank of San Francisco, stated his views on the current economy and the outlook as of January 12, 2017.

From the Board

Beige Book

January 18, 2017

Summary of Commentary on Current Economic Conditions by Federal Reserve District

What's kept Robin Rockwood at the SF Fed for over 25 years? A deep appreciation for her colleagues. She says, "We're thoughtful about what we do. One of our driving principles is to be stewards of public good. When we make decisions, especially as members of the management team, we use an important filter: How are we serving the public?"

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.