Firm heterogeneity in financial constraints is a quantitatively important driver of how monetary policy transmits to ...

Thomas M. Mertens, senior vice president and associate director of research at the Federal Reserve Bank of San Francisco, ...

Measures of beliefs, sentiment, and narratives often send recession signals that differ from those in hard data, defined as ...

To better understand the possible impacts of artificial intelligence (AI) on the economy, the Federal Reserve Bank of San Francisco published the 2025 research brief “On-the-Job Exposure to AI Among ...

The Federal Reserve System’s Reserve Banks across the country keep money moving securely, from electronic payroll deposits to instant payments to physical cash. In this critical role, Reserve Banks ...

This data series is part of the Center for Monetary Research. The Treasury yield premium model by Jens H.E. Christensen and Glenn D. Rudebusch (CR) decomposes the nominal yield curve into three ...

This data series is part of the Center for Monetary Research. This site presents a weekly and monthly series of the proxy funds rate, following Doh and Choi (2016), Choi, Doh, Foerster, and Martinez ...

The Daily News Sentiment Index is a high frequency measure of economic sentiment based on lexical analysis of economics-related news articles. The index is described in Buckman, Shapiro, Sudhof, and ...

Forward guidance is a tool central banks use to provide communication to the public about the likely future course of monetary policy. Forward guidance gives individuals and businesses information to ...

U.S. Treasury securities are government debt issued by the Department of the Treasury as bills, notes, bonds, and TIPS (Treasury inflation-protected securities). These securities are backed by the ...

This data series is part of the Center for Monetary Research. Market-Based Monetary Uncertainty provides daily indicators measuring the uncertainty about future short-term interest rates based on ...

The primary function of the Formations + Transactions Unit is to act upon and make recommendations on applications and notifications filed by state member banks, bank and financial holding companies, ...