The SF Fed is a nonprofit public service institution that supports the economy through research, community development, and banking supervision.

We are the SF Fed, public servants with a mission to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans.

The Economic Research Department conducts research on a wide range of topics in support of the Federal Reserve’s policy and public outreach functions. Research is widely disseminated, including in leading peer-reviewed scholarly journals. The department has an active visiting scholar program, collaborates with global research groups, and …

As part of the nation’s central bank, we are committed to understanding and serving the vibrant, expansive communities of the Twelfth District. That means we seek and appreciate new perspectives and build opportunities to learn and grow. At the SF Fed, we approach our work with integrity and a commitment to service.

Apr 18, 2024 · The Economic Research Department provides recurring updates of specific data sets related to its research. Topics include inflation, excess savings, productivity, employment, news sentiment, and other areas of research.

Nov 8, 2024 · Note: This data page will no longer be updated. The latest estimates of pandemic-era excess savings are as of September 2024. Past data will continue to be available on this site. Pandemic-Era Excess Savings updates estimates of the remaining stock of pandemic-era aggregate excess savings in the U.S. economy, defined as the difference between actual savings and the pre-pandemic trend. Pandemic ...

The Daily News Sentiment Index is a high frequency measure of U.S. economic sentiment based on lexical analysis of economics-related news articles.

As part of the nation’s central bank, we are committed to understanding and serving the vibrant, expansive communities of the Twelfth District. That means we seek and appreciate new perspectives and build opportunities to learn and grow. We approach our work with integrity and a commitment to service. When you join the SF Fed, you become part of a team united in its purpose to promote an ...

The SF Fed is dedicated to building a stronger economy for all Americans. To advance this mission, the Bank provides a variety of financial services that promote a safe, sound, and stable banking and financial system. These services range from ensuring that banks and other depository institutions have sufficient cash for their operations to acting as the fiscal agent for the federal government ...

The Proxy Funds Rate uses a broad set of financial market indicators to assess the stance of monetary policy. The proxy rate can be interpreted as indicating what federal funds rate would typically be associated with prevailing financial market conditions if the federal funds rate were the only monetary policy tool being used.