Federal Reserve Bank
of San Francisco Federal Reserve Bank
of San Francisco

Support­ing a Stronger Economy

Support­ing a Stronger Economy

The Federal Reserve Bank of San Francisco serves the nine western states, two territories, and commonwealth in the Federal Reserve’s Twelfth District. The Bank’s congressionally mandated mission is to promote maximum employment and stable prices, and support the nation’s financial and payment systems.

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An Introduction to the Federal Reserve Bank of San Francisco

Learn how we support the U.S. economy

Regional Insights

Learn how the Federal Reserve Bank of San Francisco utilizes regional data and local economic insights to help inform monetary policy.

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Regional Indicators

Regional data help measure the labor market, inflation, and other economic conditions across the Twelfth District.
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Current Conditions

The San Francisco Fed collects information from a broad range of sources for the Fed’s Beige Book, an economic report that assesses conditions and identifies emerging economic trends.
SF Fed Executive Vice President for Regional Engagement Laura Choi in the Twelfth District.

District Perspectives

The Regional Community and Economic Perspectives network provides the San Francisco Fed with real-time information about local economic conditions.
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On-the-ground Insights

Members of the San Francisco Fed’s advisory councils bring insights from businesses, financial institutions, and community organizations across the Twelfth District.
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Regionalism at the Fed

San Francisco Fed President and CEO Mary C. Daly explains how the Fed’s history and structure support its commitment to regionalism, independent thinking, and accountability to the public.

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Reserve Banks: Supporting a Strong Economy

Learn how the Federal Reserve Bank of San Francisco ensures that households and businesses have access to cash, safe and secure payments, and a stable banking system.

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Financial Services

The San Francisco Fed provides a wide range of financial services that promote a safe, sound, and stable banking and financial system.
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Cash Services

Throughout the Twelfth District, the San Francisco Fed ensures that cash is readily available to banks and credit unions to meet the public’s needs.
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Bank Supervision

Banking examiners work to understand banks’ operations, material risk, how well banks manage that risk, and whether banks have sufficient financial and managerial resources.
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Reserve Bank System

The Federal Reserve’s 12 Reserve Banks work to keep the U.S. economy strong – focusing on stable prices, full employment, safe banking, and secure payments.

Economic Research

Read the SF Fed’s most-viewed economic research publications to learn more about topics like inflation, employment, artificial intelligence, and other forces shaping the economy.

Stablecoin Issuers’ Growing Appetite for Treasury Securities

Stablecoin issuers have rapidly increased Treasury holdings, surpassing Japan’s growth in short-term Treasuries since 2023 and offsetting some of China’s decline. If current trends continue, their holdings could reach $400B by 2030, becoming a notable, though still limited, source of Treasury demand.

The Effects of Tariffs on the Components of Inflation

Research drawing on data from multiple advanced economies shows that after tariffs, inflation initially falls due to a decline in demand. But it gradually reverses course, driven first by goods and later by services categories.

How AI Adoption Might Affect Bank Lending

Banks adopting AI more intensively tend to see higher profitability, greater lending risk, and reduced small business lending. The findings suggest AI improves analysis of hard data like credit scores and financial statements but may discourage relationship-based lending that relies on softer information.

Effects of Oil Supply Disruptions on Oil Exporters, Importers

A new Economic Letter examines the effects of past oil supply shocks in Canada, one of the world’s largest oil exporters, and the euro area, a large net oil importer, finding that both experienced rising inflation and declining industrial production.

In Focus

Fed research examines events, risks, and trends that materially affect the economy, which in turn affect the Fed’s dual mandate goals of stable prices and maximum employment.

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Technology & Growth Center

The Technology & Growth Center develops research and shares insights that advance understanding of the economic impacts of emerging technology and innovation.
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Center for Monetary Research

The Center for Monetary Research promotes and fosters policy-relevant research in monetary economics and macro-finance.
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Data and Indicators

The Economic Research Department provides recurring updates of data sets related to its research.

Presidential News & Appearances

SF Fed’s Daly on Hoover Institution’s Economics, Applied Podcast

October 14, 2026

Reuters Exclusive: Fed’s Daly says rate hikes likely needed, but not urgently

October 14, 2026

Axios Exclusive: Fed’s Daly eyes AI, tariffs, energy for inflation outlook

October 6, 2026

Fed’s Daly Discusses Outlook and AI Demand on Bloomberg Surveillance

August 20, 2026

Federal Reserve Bank of San Francisco President Mary C. Daly engages with people and businesses in the Twelfth District and across the U.S. to better understand the economy and explain her thinking on monetary policy and the economic outlook.

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