2015 Annual Report

Image of 2015 Annual Report What We've Learned and why it matters

Updated May 9, 2016

“2015 marked a milestone in our path back from the Great Recession,” writes President John Williams in his opening letter to the SF Fed’s 2015 annual report, What We’ve Learned…and why it matters.

The report goes beyond traditional financial statements to highlight important successes in the Bank’s ongoing efforts to create a growing, sustainable economy for everyone. Up first in the lineup of short videos and podcasts are interviews with the Federal Reserve’s Cash Product Office and SF Fed Community Development.

Key learnings:

  • Secure custom software solutions enable the Fed to execute monetary policy decisions. Why it matters >

  • The SF Fed is rapidly evolving and adapting to the preferences of a new generation of workers. Why it matters >

  • The Fed’s balance sheet has about $4.5 trillion in assets. Why it matters >

  • Fintech is changing the way people obtain financial services and interact with banks. Why it matters >

  • The Fed connects with businesses and communities at a local level and brings this information to policy discussions in Washington D.C. Why it matters >

  • Changes in demographics, and in employer and worker needs, have created a “new normal” in the U.S. labor market. Why it matters >

  • China’s economic slowdown is affecting global economic activity. Why it matters >

  • Even if cash use were to decline 2½ percent over the next 20 years, Reserve Banks would still be counting 20 billion notes. Why it matters >

  • The average American household couldn’t pay an unexpected $400 expense without borrowing money or selling something. Why it matters >

  • Engaging local artists is a powerful way to revitalize and build communities. Why it matters >

  • Improving health in lower-income households can lead to better economic outcomes for individuals and communities. Why it matters >

View the 2015 Annual Report

The views expressed here do not necessarily reflect the views of the management of the Federal Reserve Bank of San Francisco or of the Board of Governors of the Federal Reserve System.