Federal Reserve Bank of San Francisco

Register for our next EERN event: sffed.us/EERN324 Join us 3/24 for a presentation by Nicholas Bloom of @Stanford on firm-level AI use and its impacts on employment and productivity, based on surveys of 5,000+ executives across the US, UK, Germany, and Australia.

WATCH LIVE TODAY: Press conference with #FOMC Chair Powell at 2:30 p.m. ET: federalreserve.gov youtube.com/federalreserve

Today we celebrate the 100th birthday of Alan Greenspan, the 13th chairman of the Federal Reserve, who guided U.S. monetary policy for over 18 years (1987-2006). Appointed by four different presidents, Chairman Greenspan served five terms. During his tenure, Chairman Greenspan navigated the Fed through significant economic events, including the 1987 stock market crash and the aftermath of the 9/11 terrorist attacks. The longest official economic expansion in U.S. history occurred while he was chairman. Join us in honoring the contributions of Chairman Greenspan to the Federal Reserve System and the nation's economic stability. #FedHistory #Greenspan100 #CentralBanking youtube.com/shorts/YHkN5kE…

Here at the Fed, we are rationally exuberant to celebrate your 100th birthday with you. Happy birthday, Alan Greenspan! youtu.be/lp1sJDa5MsI

The economic outlook improved overall, with a higher share of contacts expecting economic activity this year to be similar or slightly stronger than last year.

Retail sales declined slightly, with consumers reportedly pulling back spending following the holiday shopping season, and contacts continued to describe a bifurcated, or K-shaped, economy.

The latest Twelfth District Beige Book reports that economic activity slowed slightly during the January through mid-February reporting period. sffed.us/beigebook

The latest regional indicators for labor markets and prices are available: sffed.us/4k01FCy The San Francisco Fed monitors regional economic indicators to help achieve the Fed system's maximum employment and price stability goals.

The US economy continues to advance at a robust pace. In the latest SF FedViews, Senior Policy Adviser Mark M. Spiegel looks at trends in economic output, the labor market, inflation, and AI—and their implications for monetary policy. sffed.us/4cR7jpG

Two terms that help define how the Fed supports the U.S. economy: easing and tightening. Swipe through to test your Fed knowledge.

How much can unauthorized immigration explain recent swings in employment growth? A new Economic Letter finds a nearly one-for-one causal effect on employment growth during both the recent rapid rise and slowdown in unauthorized immigration. sffed.us/4aymVM3

Why do interest rates change? In this edition of Fed Definitions, learn about monetary policy and how it impacts borrowing costs.

What is monetary policy?

The Federal Reserve's pandemic-era Paycheck Protection Program Liquidity Facility has essentially ended. But a new Economic Letter finds that the positive effects on small business lending have persisted. sffed.us/4kqTP62

Is the economic outlook good or bad? If you talk to businesses, they’re cautiously optimistic. Growth is good, consumer spending remains solid, jobs are easy to fill, and productivity gains are helping control costs.

Why are homes so pricey? A new Economic Letter suggests that differences in affordability may reflect differences in housing demand rather than constraints on housing supply. In other words, housing may simply reflect underlying labor-market dynamics. sffed.us/4bDcQQp

WATCH LIVE TODAY: Press conference with #FOMC Chair Powell at 2:30 p.m. ET: federalreserve.gov youtube.com/federalreserve

The discussion will focus on the challenges that businesses face in transitioning to an AI environment and how the demand for new products will determine the jobs of the future. sffed.us/EERN261

Registration for our next EERN event is live! Join us on February 5 for a live conversation with Fabien Curto Millet, chief economist at @Google, and Sylvain Leduc, director of economic research at the @sffed.