Federal Reserve Bank of San Francisco

Live now: Job Matching in the Age of AI with Sylvain Leduc and Svenja Gudell of Indeed.

New technologies and demographic shifts are changing both how we work and how jobs are filled, and real-time labor market data can help workers, employers, and policymakers understand these changing trends and make better decisions. Join us on March 6 for a live discussion on labor market trends and job matching in the age of AI with Svenja Gudell, Chief Economist at Indeed, and Sylvain Leduc, Director of Economic Research at the SF Fed.

Our latest Beige Book reports on 12th District economic conditions, including within the Los Angeles area since the January wildfires: https://sffed.us/4i9Uvea Overall economic activity ticked down in January and early February. Employment levels were stable, while prices and wages grew slightly. Retail sales fell modestly and demand for services weakened a bit. LA area contacts reported that wildfire recovery efforts were boosted by increased donations and improved coordination among individuals and institutions.   The SF Fed regularly gathers information on regional economic conditions from Bank and Branch directors, business contacts, economists, and other sources for the Beige Book. Read the full report to see what is happening in the 12th District, the largest District in the Federal Reserve System.

RSVP for Thursday's live discussion on labor market trends and job matching in the age of AI with Svenja Gudell, Chief Economist at Indeed, and Sylvain Leduc, Director of Economic Research at the Federal Reserve Bank of San Francisco. You can also register and submit a question for the panelists here: https://sffed.us/EERNMAR6

Housing prices surged as housing inventories dropped to historically low levels in the first two years following the onset of the pandemic. In an Economic Letter by John Mondragon, Adam Shapiro, and Valeska Fresquet Kohan, the authors find that the decline in housing inventories during these years was driven by an exceptionally high demand for housing rather than a low supply. Watch John Mondragon discuss how outsized demand for housing can be seen in the housing sales versus new listings data from 2019 through 2022. A meaningful difference between highly elevated sales and relatively normal levels of new listings demonstrates the unusually high demand for housing during the 2020 to mid-2022 period. To find more information on the shifts in housing demand during and since the pandemic, read the Economic Letter here: https://sffed.us/40x8uEc

Community banks play a crucial role in the banking ecosystem. In good and challenging times, data consistently shows the important part they play in providing essential financial services, particularly to small businesses.  See how many community banks serve the western district.

Advancements in technology and demographic shifts are changing both how we find jobs and how we work in those roles--real-time labor market data can help workers, employers, and policymakers understand emerging trends and make better decisions. We’ll tackle these topics and more on March 6, during a conversation on labor market trends and job matching in the age of AI with Svenja Gudell, Chief Economist at Indeed, and Sylvain Leduc, Director of Economic Research at the Federal Reserve Bank of San Francisco. Register for the event and submit a question: https://lnkd.in/grSK8GzH

The effectiveness of monetary policy largely depends on the public’s understanding of the Fed’s policy framework and strategy. Our analysis uses professional forecast surveys and financial market data to understand the public’s perceptions of expected future actions by the Fed. The public currently perceives the Fed’s response to changes in inflation to be high. The perceived importance of employment has also strengthened since 2024. Our Letter suggests that the public currently expects a strong and systematic response by the Fed to changes in inflation and labor market conditions. See the full Economic Letter by Michael Bauer here: https://sffed.us/41aTJ

We're pleased to announce the newest directors joining our Branch Boards in Los Angeles, Portland, Salt Lake City, and Seattle. These directors provide the Bank with insight into regional economic conditions and contribute to the Federal Reserve System's overall understanding of the economy. Los Angeles: Maria Hollandsworth, President & Chief Operating Officer, El Pollo Loco Michael Jones, President & Chief Executive Officer, Delta Dental of Arizona Portland: Rich Babcock, Chief Executive Officer, Rosboro Julia Beattie, President & Chief Executive Officer, People’s Bank of Commerce Lorie Tekorius, President & Chief Executive Officer, The Greenbrier Companies Salt Lake City: Jeremy Hafen, President & Chief Executive Officer, Clyde Companies Natalie Kaddas, Chief Executive Officer, Kaddas Enterprises, Inc. Andrew Scoggin, Chief Executive Officer, Scoggin Capital Investment Seattle: Elizabeth Wako, M.D., MD, President & Chief Executive Officer, Swedish Health Services Please join us in welcoming our new Branch directors! 

Live now: Watch Mary C. Daly share her insight on the current economic conditions to the Conference for Community Bankers of the American Bankers Association.