ECONOMIC LETTER
The recent rapid rise in house prices has raised questions about potential risk to broader financial stability. However, credit quality in the mortgage market appears very high, and lending standards tightened in early 2020. While low interest rates increased refinancing demand, evidence shows credit supply contracted sharply in March 2020 and remained tight through the early pandemic period.
From the President
Keynote Address
Chapman University Shadow Open Market Committee Conference
June 24, 2022
Upcoming Event
August 2, 2022
FROM THE BOARD OF GOVERNORS
Economic Letter
Market-based measures of short-term inflation compensation have risen sharply. Survey-based measures suggest this has not affected longer-term inflation expectations. But analyzing the difference between market prices of standard and inflation-indexed government bonds provides some tentative evidence that investors have raised their 10-year inflation outlook above their historical range.
Community Development Research Briefs
District Circular Letters
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.
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.
Ready to Join Us?
#unreserved
