Economic Letter

Climate Change Costs Rise as Interest Rates Fall

Climate change—including higher temperatures and more extreme weather—is already causing economic damage and is projected to have further long-lasting effects. Accounting for a persistently lower real rate increases the present discounted future costs of climate change, which is relevant for climate policy choices.

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.