The Federal Reserve Bank of San Francisco serves the Twelfth District, the largest in the Federal Reserve System, and represents the nine western states, two territories, and a commonwealth.

The San Francisco Fed’s core functions are to support monetary policy, strengthen financial institutions, and enhance the payments systems.

Feature

SF FedViews: Prospects for AI-related Activity Add to Uncertainty Around the Economic Outlook in 2026

Mark M. Spiegel, senior policy adviser at the Federal Reserve Bank of San Francisco, shared views on the current economy and the outlook from the Economic Research Department as of February 26, 2026.

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Speech

The AI Moment? Possibilities, Productivity, and Policy

Watch SF Fed President Mary C. Daly’s Remarks

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12th District

The Federal Reserve Bank of San Francisco is one of the 12 Reserve Banks in the Federal Reserve System. San Francisco is the headquarters of the Twelfth Federal Reserve District.

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