“I do want to caution us against thinking all bubbles are financial. I don’t see many signs that that’s the case. Research and economics call it more like a good bubble, where you’re getting a ton of investment…Even if the investors don’t get all the returns that the early enthusiasts think when they invest, it doesn’t leave us with nothing. It leaves us with something productive,” President Daly told Senior Markets Reporter Madison Mills. Read the full story here.
The Federal Reserve Bank of San Francisco (SF Fed) works to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans. As part of the U.S. central bank, the SF Fed serves the Twelfth Federal Reserve District, which covers the nine western states—Alaska, Arizona, California, Hawai’i, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. By pursuing our two key goals of maximum employment and price stability—known as the Fed’s dual mandate—we work toward supporting an economy that works for everyone.