SF FedViews: Slow Job Growth in a Strong Economy
Monthly job growth, a measure of labor demand, slowed to a near halt in 2025, but the unemployment…
What Can History Tell Us About Tariff Shocks?
The 15% increase in the average U.S. tariff rate in 2025 was the largest in the modern era.…
Listening, Learning, and Connecting: Twelfth District Year‑End Highlights
The SF Fed engages with businesses and communities across the region to gather real-time information on local economic…
Targeting infrastructure investments to build career opportunities for California’s left-behind workers
Executive summary The Infrastructure Investment and Jobs Act (IIJA) and Inflation Reduction Act (IRA), enacted in 2021 and…
Targeting infrastructure investments to build career opportunities for Los Angeles’ left-behind workers
Executive summary The Infrastructure Investment and Jobs Act (IIJA) and Inflation Reduction Act (IRA), enacted in 2021 and…
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…
China trade plummets and U.S. freight market enters recession watch
The impact of President Donald Trump‘s tariffs continues to rip through the logistics and transportation sectors, with major…
ICE raids may stunt economies of states with large Latino populations
The ongoing Immigration and Customs Enforcement raids could have major economic effects on the U.S. economy as Latino…
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,…