Economic Letter

Where Is the U.S. COVID-19 Pandemic Headed?

Consumer spending and business operations across the United States have been highly dependent on local conditions related to the pandemic. Estimates from a new econometric model indicate that population immunity acquired from prior infections is the primary driver of recent declines in new cases. This factor should continue to exert strong downward pressure on new cases in the weeks ahead.

A Thriving Labor Force Starts At Birth

Birth outcomes are a reflection of how well we are doing as a country. And unfortunately, we are doing poorly relative to comparable countries, even prior to the current crisis related to COVID-19. Broadening the framework of how we think about health and developing approaches to interrupt cycles of intergenerational inequities is essential to our future labor force and to our economy on the whole.

Work for the Fed

We like to say we work for the Fed, not at the Fed. That's because the SF Fed is not just another employer or government agency. Here, you have the opportunity to become part of an important public service institution whose work touches lives across the globe.