As a Regional Executive, Stephen DeLay traveled to various cities in Northern California to gather insights from business leaders on local economic conditions. These engagements provide valuable ...

Recent surges in trade policy uncertainty highlight the fragility of global supply chains, prompting businesses to consider ...

Andrew Foerster, senior research advisor at the Federal Reserve Bank of San Francisco, shared views on the current economy ...

Using long-run cross-country panel data, we document that (i) contemporaneous credit growth strongly predicts contemporaneous equity returns with positive sign, and (ii) lagged credit growth strongly ...

Using novel measures of information acquisition, we document causal evidence of a feedback loop between firms’ credit access and information acquisition. To examine the macroeconomic implications of ...

We document that the Fed’s perceived monetary policy response to inflation shifted materially over the post-pandemic period. In forward-looking policy rules estimated from surveys of macroeconomic ...

Internal migration has been cited as a key channel by which societies will adapt to climate change. We show in this paper that this process has already been happening in the United States. Over the ...

Here’s a snapshot of a recent outreach visit in Alaska from Mary C. Daly, President and CEO at the Federal Reserve Bank of ...

President Daly joined Steven Davis, Thomas W. and Susan B. Ford Senior Fellow and Director of Research at the Hoover ...

Temporary layoffs accounted for essentially the entire increase in unemployment to its historically high rate in April 2020. Although the rate has come down since its peak, unemployment remains well ...

After growing substantially during the 1980s through the early 2000s, the college wage premium more recently has been largely unchanged, or stagnant. We extend the canonical production-function model ...

Extreme heat decreases labor productivity in sectors like construction, where much work occurs outdoors. Because construction is an important component of investment, lost productivity today will slow ...