Our Mission

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

SF Fed Blog

Photo of San Francisco houses and City Hall

Can the SF Bay Area Solve Its Affordable Housing Crisis?

Sky-high rents and a competitive real estate market have created a housing crisis of epic proportions in California and especially in the San Francisco Bay Area. What can be done at the city level to create more affordable housing now?

Economic Letter

Projecting the Long-Run Natural Rate of Interest

Posted August 29, 2016

Current estimates suggest the “natural” rate of interest is near zero, but it is expected to rise gradually in the years ahead as real GDP returns to its long-run potential. If the historical statistical relationship between the growth rate of potential GDP and the natural rate holds, then 2% long-run growth would imply a long-run natural rate of around 1%.

In the News

From the 12th District

Fed’s Williams Advocates Rate Hike

August 18, 2016

From the President

Longview: The Economic Outlook

August 18, 2016

Presentation to the Anchorage Economic Development Corporation

Anchorage, Alaska

From Executive Leaders

Tailoring, Fintech, and Risk Culture: The Talk of the (Community Banking) Town

April 4, 2016

Speech to the Western Independent Bankers Annual Conference for 
Bank Presidents, Senior Officers & Directors
Waikoloa, Hawaii


Economic Outlook

Michael Bauer, senior economist at the Federal Reserve Bank of San Francisco, stated his views on the current economy and the outlook as of August 11, 2016.

From the Board

Beige Book

July 13, 2016

Summary of Commentary on Current Economic Conditions by Federal Reserve District

Officer Paul Trotter welcomes employees and visitors to SF Fed headquarters with a crinkle-eyed grin and ready jokes. How raising camels, battling wildfires, and providing security for NBC Studios led him to the Federal Reserve Bank of San Francisco.

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.