Author: rlang

As we approach the end of the year, here’s a top five list of our most widely read FRBSF Economic Letter topics in 2025, featuring research and insights from SF Fed economists and research staff.

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.

For decades, economists and policymakers have argued about the meaning of full employment. Those debates are getting more vigorous. Historic changes in labor force growth have resulted in a job count that is barely rising and a labor market that feels static, even stuck—a significant departure from the usual experience of full employment.

The SF Fed maintains three advisory councils: the Community Advisory Council, Community Depository Institutions Advisory Council, and Economic Advisory Council. Members of these councils represent businesses, financial institutions, and community organizations across the Twelfth District. They convene to discuss the District’s economy, bringing valuable perspectives from around the District to the San Francisco Fed. This Advisory Council Observations series highlights key insights contributed by the council members in recent meetings.