We produce a wide range of publications that share the latest data, analysis, and insights from various teams at the SF Fed. Our publications help inform and strengthen public understanding of economic issues and its impact on people and communities.

Latest Beige Book

Summary of Commentary on Current Economic Conditions: Federal Reserve Bank of SF

Economic Research Publications

FRBSF Economic Letter >

Economic analysis for general audiences

  • When Is Shelter Services Inflation Coming Down?

    Shelter costs are one of the largest expenses for most households and an important component of overall inflation. It is therefore important to understand why shelter costs have remained stubbornly high. A key explanation is that, especially since the pandemic, demand for housing has been growing faster than new units have come into the market. Using the gap between the demand for and supply of housing along with other leading indicators of shelter prices can help assess whether shelter inflation will continue on a path toward historically normal levels.

View all FRBSF Economic Letters

FedViews >

Analysis of current economic developments and the outlook

  • FedViews: September 5, 2024

    Leila Bengali, regional policy economist at the Federal Reserve Bank of San Francisco, stated her views on the current economy and the outlook as of September 5, 2024.

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Working Papers >

The latest in economic research

  • Corporate Debt Maturity Matters for Monetary Policy

    We provide novel empirical evidence that firms’ investment is more responsive to monetary policy when a higher fraction of their debt matures. In a heterogeneous firm New Keynesian model with financial frictions and endogenous debt maturity, two channels explain this finding: (1.) Firms with more maturing debt have larger roll-over needs and are therefore more exposed to fluctuations in the real interest rate (roll-over risk). (2.) These firms also have higher default risk and therefore react more strongly to changes in the real burden of outstanding nominal debt (debt overhang). Unconventional monetary policy, which operates through long-term interest rates, has larger effects on debt maturity but smaller effects on output and inflation than conventional monetary policy.

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Community Development Publications

Community Development Innovation Review >

The Community Development Innovation Review focuses on bridging the gap between theory and practice, from as many viewpoints as possible. The goal of this journal is to promote cross-sector dialogue around a range of emerging issues and related investments that advance economic resilience and mobility for low- and moderate-income communities.

  • Fintech, Racial Equity, and an Inclusive Financial System

    Fintech, Racial Equity, and an Inclusive Financial System

    This issue of the Community Development Innovation Review examines the promise and pitfalls of financial technology, or fintech, for fostering racial equity and greater financial inclusion. Edited in partnership with the SF Fed’s Fintech team and Aspen Institute’s Financial Security Program, this issue brings together a broad set of voices from people working in various roles—including in technology, community development, economic inclusion, regulation, and investment—to contextualize gaps in the financial system and consider ways to address them.

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Community Development Research Briefs >

Research Briefs feature data and commentary on community development trends and issues.

Community Development Working Papers >

Working papers provide in-depth analysis of emerging community development issues from practitioners and scholars.

  • Housing Market Interventions and Residential Mobility in the San Francisco Bay Area

    Housing Market Interventions and Residential Mobility in the San Francisco Bay Area

    Limited evaluation research exists on which housing solutions are most effective in stabilizing communities so that those who wish to stay are able to do so in the midst of an influx of newcomers. This study seeks to fill this gap by assessing patterns of individual and household mobility related to specific housing interventions in the nine-county San Francisco Bay Area. Specifically, this study examines impacts of market-rate and subsidized development, and tenant protections, including rent stabilization and just cause for evictions protections.

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    View all Community Development Working Papers

Banking Publications

First Glance 12L >

These quarterly reports highlight key indicators of 12th District banking conditions.

Supervision in Brief >

This publication offers observations by the Head of Supervision of Financial Institution Supervision and Credit (FISC) on current banking and regulatory issues facing 12th District institutions.

Archived Publications

Asia Focus (Banking) >

Banks at a Glance >

District Circular Letters >

Fintech Edge >

Real Estate Lending Monitor >