Economic Letter

Average Inflation Targeting in the Financial Crisis Recovery

The Federal Reserve adopted average inflation targeting as part of its long-run monetary strategy framework in 2020. Analysis shows a partly forward-looking version of average inflation targeting could have improved economic outcomes in the recovery from the financial crisis of 2008, as well as substantially reduced uncertainty around economic outcomes.

Our Commitment to Equity

The San Francisco Fed is dedicated to building an economy that works for everyone and helping ensure all Americans have the opportunity to fully realize their potential. We champion equity because research has demonstrated it supports our full employment mandate and our mission to promote a healthy and sustainable economy.

Career Opportunities

The San Francisco Fed is dedicated to building an economy that works for everyone. We thrive on reflecting the people we serve by hiring talented individuals from diverse backgrounds and creating a culture of inclusion where people are respected for what they do and for who they are.