Research Spotlight
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Pandemic Savings Are Gone: What’s Next for U.S. Consumers?
U.S. household savings rose and fell at unprecedented rates following the onset of the pandemic recession. Updated estimates suggest that these excess savings have been fully spent. However, consumer spending shows no signs of losing steam, raising questions about its future path.
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What’s Driving Inflation? Our New Data Page Gives a Detailed Look
Knowing why inflation changes in any given month requires looking beyond the headline number. As part of our work to disentangle the key drivers of inflation, our recent SF Fed Blog introduces the new Economic Research data page, PCE Inflation Contributions from Goods and Services.
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Apply for 2024 Thomas J. Sargent Dissertation Fellowship by March 25
Applications are open now through March 25 for the 2024 Thomas J. Sargent Dissertation Fellowship program with the San Francisco Fed’s Economic Research Department. The program is open to PhD students at U.S. universities in various economic fields of study who have passed their qualifying exam and are in the process of writing their dissertation; […]
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Staying on Course: Reducing Inflation along a Nonlinear Phillips Curve
Our recent blog post highlights how new data covering the period since May 2023 have continued to follow the path of a nonlinear Phillips curve–the relationship between inflation and a particular measure of labor market slack, the ratio of the unemployment rate to the job vacancy rate. This new evidence provides additional support to the […]
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Conference on Fixed Income Markets and Inflation: Call for Papers
The Federal Reserve Banks of San Francisco and Chicago and the Journal of Financial Econometrics are inviting paper submissions for a conference on “Fixed Income Markets and Inflation.” The conference will take place in Chicago on May 9-10, 2024. Selected papers will be considered for publication in a special issue of the Journal. The conference will focus on […]
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Economic Letter Countdown: Hot Topics from 2023
As we launch into a new year of research, here’s a look back. Check out the list of our most popular FRBSF Economic Letter topics of 2023, featuring research insights from San Francisco Fed economists. Read more in the blog.
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Data Revisions and Pandemic-Era Excess Savings
U.S. household savings rose and fell at unprecedented rates since the onset of the pandemic recession. Comprehensive data revisions by the Bureau of Economic Analysis show that households continue to hold significantly more savings than previously estimated. Our updated estimates suggest that more than $400 billion of accumulated excess savings remains in the aggregate economy, […]
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Join Us for Ask the SF Fed: Labor Markets, Inflation, and the Economy
Join us on Thursday, October 12, at 10:35 am PDT, for a live discussion on Labor Markets, Inflation, and the Economy with Research Director Sylvain Leduc. Leduc will answer presubmitted questions from the public in a discussion with our host moderator, Laura Monfredini. Key topics will include the challenges of high inflation in the services […]
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Monras Wins Award for Best Spanish Economist under 40
Joan Monras, Research Advisor at the SF Fed and Professor of Economics at the Pompeu Fabra University, has been awarded the 22nd Banco Sabadell Foundation Award for Economic Research for his innovative research in the field of immigration. Monras’s research focuses on the fields of labor economics, urban economics, and international trade. His articles examine […]
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Excess No More? Dwindling Pandemic Savings
U.S. household savings rose and fell at unprecedented rates since the onset of the pandemic recession. Updated estimates suggest that only a small fraction of accumulated excess savings remains in the aggregate economy and that those funds are likely to be depleted during the third quarter of 2023.