Author: darren.johnson@sf.frb.org
This week’s FOMC decision was not an easy choice. Our goals are in conflict. Inflation is above target, the labor market is softening, and there are risks to both sides of our mandate—maximum employment and price stability.
The SF Fed engages with businesses and communities across the region to gather real-time information on local economic conditions. These insights provide important context to quantitative data and analyses that the Federal Reserve uses to guide its monetary policy efforts.
In 2024, the San Francisco Fed and the Federal Reserve System Innovation Office launched the EmergingTech Economic Research Network (EERN) to support a better understanding of how new technologies like GenAI are shaping the economies of today and the future. As part of the EERN initiative, we often hold roundtable discussions to hear from industries and sectors at the front lines of digital adoption to ask questions such as: How are artificial intelligence (AI) tools being used? Is AI adoption still in early stages or has it been fully integrated in certain areas? What are the expected or realized impacts on firm productivity and employment?