In an essay in the 2012 Annual Report, San Francisco Fed President and CEO John C. Williams explains why currency in circulation is soaring at the same time Americans are turning away from cash to pay for purchases.
Features
Tech Pulse
Posted June 12, 2013
In May 2013 the Tech Pulse Index grew at an annualized rate of 5.2%, compared to its 16.0% historical average. The Tech Pulse Index grew 2.4% over the past 12 months.
The New Era of Affordable Housing
Posted June 6, 2013
Our new issue of Community Investments examines how affordable housing development and finance models are evolving to overcome lost resources and meet growing and changing demand.
Fiscal Headwinds: Is the Other Shoe About to Drop?
Posted June 3, 2013
Federal fiscal policy during the recession was abnormally expansionary by historical standards. However, over the past 2½ years it has become unusually contractionary as a result of several deficit reduction measures passed by Congress. During the next three years, we estimate that federal budgetary policy could restrain economic growth by as much as 1 percentage point annually beyond the normal fiscal drag that occurs during recoveries.
Beige Book
Posted June 5, 2013
District economic activity expanded at a modest pace. Price inflation was subdued for most final goods and services, and upward wage pressures were limited overall.
Our District
Welcome to the Federal Reserve Bank of San Francisco, the 12th District of the Federal Reserve System headquartered in San Francisco.
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Did You Know?
Our district houses one of the most significant currency exhibits in the world.
