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

  • The Rise and Fall of Pandemic Excess Wealth

    U.S. households accumulated significantly more wealth following the pandemic onset than would have been expected without the pandemic shock. Overall excess household wealth—measured as households’ inflation-adjusted net worth beyond pre-pandemic projections—peaked in late 2021 at $13 trillion, then rapidly fell to zero in late 2022, where it broadly remained through the third quarter of 2023. This rise and fall can be attributed mainly to financial assets, particularly equity holdings. Similarly, real liquid asset holdings currently sit below pre-pandemic projections despite a persistent rise in checking account balances.

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FedViews >

Analysis of current economic developments and the outlook

  • FedViews: January 18, 2024

    Michael Bauer, senior research advisor at the Federal Reserve Bank of San Francisco, stated his views on the current economy and the outlook as of January 18, 2024.

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Working Papers >

The latest in economic research

  • Regional Dissent: Do Local Economic Conditions Influence FOMC Votes?

    U.S. monetary-policy decisions are made by the 12 voting members of the Federal Open Market Committee (FOMC). Seven of these members, coming from the Federal Reserve Board of Governors, inherently represent national-level interests. The remaining five members, a rotating group of presidents from the 12 Federal Reserve districts, come instead from sub-national jurisdictions. Does this structure have relevant implications for the monetary policy-making process? In this paper, we first build a panel dataset on economic activity across Fed districts. We then provide evidence that regional economic conditions influence the voting behavior of district presidents. Specifically, a regional unemployment rate that is one percentage point higher than the U.S. level is associated with an approximately nine percentage points higher probability of dissenting in favor of looser policy at the FOMC. This result is statistically significant, robust to different specifications, and indicates that the regional component in the structure of the FOMC could matter for 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 >