We show, both theoretically and empirically, that tight financial conditions shift investment toward cheaper but less energy-efficient capital. In a small ...

The San Francisco Fed’s Beige Book received another “Beigie Award” from NPR’s Planet Money and was featured in their podcast, Hawaii’s worker shortage goes ...

AI adoption and use are still evolving, and the technology itself is changing rapidly. What we know about AI and its impact on productivity growth and the economy remains uncertain. Transformations ...

The large increase and subsequent decline of unauthorized immigrant workers in recent years have raised questions about the impact of these changes on local labor markets across the United States. New ...

Good afternoon and thank you for that kind introduction. And thank you to the Silicon Valley Leadership Group and to San Jose State University for having me here. I am looking forward to a great ...

Understanding housing demand dynamics through two indicators, income growth and population growth, provides important insights into housing affordability. Research shows that average U.S. income ...

The pace of job growth cooled through mid-2025, while the unemployment rate rose relatively little. This seeming puzzle is explained by an even stepdown of labor supply and demand, meaning slowing ...

The change in the average U.S. tariff rate in 2025 was the largest in the modern era. One way to assess the effects of such a large shock on unemployment and inflation is by looking at data from ...

Central banks set policy to support the economy, provide liquidity, and promote financial stability. Modern central banking requires adaptation to current demands and a framework that fosters agility ...

Welcome everyone. I am thrilled to join you today for our next emerging Tech Economic Research Network event. I’m Louise Willard, and I serve as the Executive Vice President and Chief Information ...

The U.S. economy has remained remarkably resilient this year, navigating uncertainty, changes in government policy, including tariffs, immigration, deregulation, and taxes, an AI-driven technology ...

Recent surges in trade policy uncertainty highlight the fragility of global supply chains, prompting businesses to consider reshoring—moving production from abroad to domestic locations. Reshoring can ...