What Is a Tariff Shock? Insights from 150 years of Tariff Policy
2025-26 | November 13, 2025 In this paper we exploit 150 years of tariff policy in the US…
The Economic Effects of Tariffs
The United States has pursued a wide range of import tariffs against its trading partners since the beginning…
SF FedViews: Solid Growth, but Small Cracks Have Emerged
Inflation has risen since early this year, largely driven by core goods prices. The increases likely relate to…
Immigration and Changes in Labor Force Demographics
Demographics in the United States have changed substantially over the past two decades, reflecting the aging of the…
How Much Are Banks Exposed to Trade Policy Changes?
Financial markets dropped sharply following announced changes in U.S. trade policy in early 2025 but have since recovered.…
 Policymaking Amid Change – San Francisco Fed
The U.S. economy has remained remarkably resilient this year, navigating uncertainty, changes in government policy, including tariffs, immigration,…
Signs of Cyclical Weakness in Part-Time Employment?
Economists often look beyond headline unemployment to measure the health of the U.S. labor market. One such measure…
SF FedViews: October 16, 2025
Progress on reducing inflation has been uneven of late. Inflation in the core goods sector has been rising…