Federal Reserve Bank of San Francisco

Reflecting on highlights from 2024, I’m particularly grateful for Oregon Business & Industry's annual manufacturing bus tour that celebrates Oregon manufacturers across the state.    As always, it was a reminder that #manufacturing is a key contributor to the regional economy and often supports entire communities with living-wage jobs.    We make amazing stuff here in Oregon! It’s a privilege to see it in action as part of my business outreach work at the Federal Reserve Bank of San Francisco. Happy holidays and cheers to 2025! Gunderson Marine & Iron Pacific Stainless Products Bornstein Seafoods Oshkosh AeroTech, LLC Fort George Brewery Hampton Lumber Portland Community College Epson America Inc. Beaverton Foods NSI LLC A.R.E. Manufacturing, Inc. Tiger Manufacturing

Despite progress in reducing inflation, a sustained period of high inflation has raised many prices well above their pre-pandemic levels. The initial price surge was especially severe for the volatile food and energy categories, which have since flattened out, while prices for housing services have risen steadily.   You can find additional insights on the current economy and the outlook in our latest edition of FedViews from Robert Valletta, associate director and senior vice president at the SF Fed: https://lnkd.in/gREPgw5T

See updates on labor markets, prices, and overall economic activity in our latest Beige Book: https://lnkd.in/gmkCrSGS What is the Beige Book? It’s information on recent changes in regional economies as reported by Fed Bank and Branch directors, business contacts, economists, and others. Along with economic data and analysis, the Beige Book report helps the Fed identify emerging economic trends. Tap the link to see what is happening in the 12th District, the largest and most diverse in the Federal Reserve System.

RSVP for a livestreamed conversation about emerging technology and the economy, with Pres. Mary C. Daly and John H. Cochrane, Senior Fellow at Hoover Institution, Stanford University. Details below ⬇️

Be sure to RSVP for our conversation with SF Fed President + CEO Mary C. Daly and John H. Cochrane, Senior Fellow at the Hoover Institution, Stanford University! They’ll discuss emerging technologies and their potential economic effects tomorrow at 10 AM PT: 

The US saw a surge in labor productivity growth during the pandemic, and then a slowdown as the economy recovered. A new Economic Letter from John G. Fernald, Huiyu Li, Brigid Meisenbacher, and Aren S. Yalcin found this surge and decline followed a recurring pattern—one that suggests that productivity growth has a systematic relationship with the business cycle. To learn more about productivity growth and its cyclical patterns, watch this video with research advisor Huiyu Li, and read the Economic Letter here: https://lnkd.in/gPfnf-bc 

Please join us on December 4 for a live presentation on artificial intelligence and the work of the future from David Autor, the Daniel (1972) and Gail Rubinfeld Professor of Economics at Massachusetts Institute of Technology. This is a virtual event, open to everyone. It will be livestreamed and a recording will be available after the event. We invite you to register and submit a question for the Q&A here: https://lnkd.in/gHnR5Pbq

Tremendous advancements have been made in measuring trends in water resources in recent decades. Our Letter examines water storage trends across the United States to understand potential consequences of water scarcity for the economy, population, and agricultural sector. https://sffed.us/3Oz4pc3

Warm wishes for a happy and safe Thanksgiving from all of us at the Federal Reserve Bank of San Francisco!

AI could reshape and change the work of the future, next week, we’ll take a deeper look at some of the potential impacts this emerging technology could have on the labor force. Tune in next week for the livestream.