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 ...

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

Calendar-year inflation forecasts from Federal Open Market Committee meeting participants typically start near 2% and then ...

Our new data page, CPI Inflation Contributions from Goods and Services, details the evolution of inflation using the consumer ...

We document key stylized facts about the time-series trends and cross-sectional distributions of AI pricing and study its ...

Understanding how inflation is evolving and what is driving it requires looking beyond the headline number. To get a fuller picture of this evolution using the consumer price index, the SF Fed has ...

Standard asset pricing models reconcile high equity premia with smooth risk-free rates by inducing an inverse functional relationship between the mean and the variance of the stochastic discount ...