Inflation still lies somewhat above the Federal Reserve’s 2% goal after slowing significantly since its spring 2022 peak.

This paper reviews how productivity has evolved around the world since the pandemic began in 2020. Productivity in many countries has been volatile. We conclude that the broad contours of productivity ...

U.S. labor productivity initially surged in 2020 during the COVID-19 pandemic, despite the massive economic upheaval. As the economy recovered, the level of productivity retreated to its slow ...

The Phillips curve plays a central role in the macroeconomics literature. However, there is little consensus on the forcing variable that drives inflation in the model, i.e., on the appropriate ...

Watch our Economic Letter video with Adam Shapiro, Vice President, Economic Research, to learn more about our measurements of ...

Regional data provide indicators measuring characteristics of the dual mandate across the nation. This page provides data on labor market conditions, prices, and earnings for the 50 states and the ...

U.S. net international migration (NIM) grew at historically high rates over the past several years. An update of earlier San Francisco Fed analysis (Duzhak 2024), using new and revised data on the ...

Calendar-year inflation forecasts from Federal Open Market Committee meeting participants typically start near 2% and then are revised in response to incoming data. Before the pandemic when actual ...