San Francisco Fed

Organization

A regional branch of the Federal Reserve. Bessent cites a study it published, using 150 years of data, to support his claim that tariffs are disinflationary.


First Mentioned

12/23/2025, 5:44:58 AM

Last Updated

12/23/2025, 5:46:58 AM

Research Retrieved

12/23/2025, 5:46:58 AM

Summary

The Federal Reserve Bank of San Francisco, also known as the San Francisco Fed, serves as the federal bank for the twelfth district in the United States. This district encompasses nine western states, including Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington, along with the Northern Mariana Islands, American Samoa, and Guam. The San Francisco Fed operates branch offices in Los Angeles, Portland, Salt Lake City, and Seattle, and maintains a cash processing center in Phoenix. Its district is the largest in the nation by both area and population, covering 1.3 million square miles and home to 60 million people. By assets held, it is the second-largest Federal Reserve Bank, following only the New York Fed. In 2004, the San Francisco Fed processed a significant volume of currency notes and commercial checks. The bank also houses one of the largest collections of U.S. paper money in the country, which is exhibited in the American Currency Exhibit. Mary C. Daly has been the President and CEO since October 1, 2018. Notable former presidents include John C. Williams, who later became President of the Federal Reserve Bank of New York and Vice Chairman of the Federal Open Market Committee, and Janet Yellen, who served as Chair of the Board of Governors. A study from the San Francisco Fed was cited to argue that tariffs are disinflationary.

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    Federal Reserve Bank of San Francisco

    The Federal Reserve Bank of San Francisco (informally referred to as the San Francisco Fed) is the federal bank for the twelfth district in the United States. The twelfth district is made up of nine western states—Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington—plus the Northern Mariana Islands, American Samoa, and Guam. The San Francisco Fed has branch offices in Los Angeles, Portland, Salt Lake City, and Seattle. It also has a cash processing center in Phoenix. The twelfth district is the nation's largest by area and population, covering 1.3 million sq mi (3.4 million km2), or 36% of the nation's area, and 60 million people. The Federal Reserve Bank of San Francisco is the second-largest by assets held, after New York. In 2004 the San Francisco Fed processed 20.8 billion currency notes and 1.5 billion commercial checks. The Federal Reserve Bank in San Francisco has one of the largest collections of US paper money in the United States, which is displayed in the American Currency Exhibit. Mary C. Daly serves as the President and CEO as of October 1, 2018. Notable former Presidents include John C. Williams (2011–2018), who now holds the same role at the Federal Reserve Bank of New York and is Vice Chairman of the Federal Open Market Committee, as well as Janet Yellen (2004–2010), who held the role of Chair of the Board of Governors from 2014 to 2018.

    Web Search Results
    • Federal Reserve Bank of San Francisco - Wikipedia

      The Federal Reserve Bank of San Francisco (informally referred to as the San Francisco Fed) is the federal bank for the twelfth district in the United States. The twelfth district is made up of nine western states—Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington "Washington (state)")—plus the Northern Mariana Islands, American Samoa, and Guam. The San Francisco Fed has branch offices in Los Angeles, Portland, Salt Lake City, and Seattle. It also has a cash [...] The twelfth district is the nation's largest by area and population, covering 1.3 million sq mi (3.4 million km2), or 36% of the nation's area, and 60 million people. The Federal Reserve Bank of San Francisco is the second-largest by assets held, after New York. In 2004 the San Francisco Fed processed 20.8 billion currency notes and 1.5 billion commercial checks.[citation needed] [...] | The Federal Reserve Bank of San Francisco is one of 12 regional banks that make up the Federal Reserve System |

    • Federal Reserve Bank of San Francisco | LinkedIn

      San Francisco (1d): The San Francisco Fed has a new data indicator: the weekly Labor Market Stress Indicator. This indicator tracks state-level labor market developments in real time by calculating how many U.S. states are seeing accelerating unemployment. This helps policymakers and analysts spot turning points in labor conditions. The indicator currently shows that very few states are currently experiencing accelerating unemployment, suggesting that labor market stress is currently low. [...] We are the Federal Reserve Bank of San Francisco—public servants with a mission to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans. As part of the U.S. central bank, we serve the Twelfth Federal Reserve District, which covers the nine western states—Alaska, Arizona, California, Hawai’i, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. Our three core functions [...] Federal Reserve Bank of San Francisco (10h): What impact are current economic conditions having on business decisions? The SF Fed’s Economic Advisory Council (EAC) convened in October to discuss the current economic and business conditions across the Twelfth District. Here were some of their key takeaways: 📊 Costs & Revenues: Council members generally reported stable to slightly higher costs and revenues across various industries and regions. 🚢 Tariff Pressures: Several businesses facing

    • Federal Reserve Bank of San Francisco

      Federal Reserve Bank of San Francisco Federal Reserve Bank of San Francisco LinkedIn Facebook X YouTube Instagram Threads The Federal Reserve Bank of San Francisco serves the Twelfth District, the largest in the Federal Reserve System, and represents the nine western states, two territories, and a commonwealth. The San Francisco Fed’s core functions are to support monetary policy, strengthen financial institutions, and enhance the payments systems. About the SF Fed Feature [...] The Federal Reserve Bank of San Francisco is one of the 12 Reserve Banks in the Federal Reserve System. San Francisco is the headquarters of the Twelfth Federal Reserve District. Explore Our Region ## Stay connected with us on our social media channels: LinkedIn Facebook X YouTube Instagram Threads [...] ### No Easy Choice San Francisco Fed President Mary C. Daly explains why the FOMC’s latest policy decision leaves the central bank well positioned to achieve its goals of maximum employment and price stability. Read the blog ## The Latest ### The Changing Sensitivity of Interest Rates to Oil Supply News ### Raffaella Sadun | Management and Reskilling in the Age of AI ### Updated Data on Homebuying Trends ### Twelfth District Beige Book: November 2025 ### The Economic Effects of Tariffs

    • Daily News Sentiment Index - San Francisco Fed

      Daily News Sentiment Index - San Francisco Fed Federal Reserve Bank of San Francisco Federal Reserve Bank of San Francisco LinkedIn Facebook X YouTube Instagram Threads About Us Our People Join Us What We StudyBack What We Study Inflation Labor Markets Monetary Policy Banking Financial Markets Housing & Real Estate US Economy Global Economy View All Topics [...] Events Speeches News Zip Code Economies Subscriptions About SF Fed About Us Our People Join Us Subscribe to receive our newsletter and emails. LinkedIn Facebook X YouTube Instagram Threads © 2025 Federal Reserve Bank of San Francisco Site PoliciesPrivacyContact Us [...] Combining publicly available lexicons with a news-specific lexicon constructed by the authors, the study develops a sentiment-scoring model tailored specifically for newspaper articles.

    • Federal Reserve Bank of San Francisco Newspaper Notice

      You are invited to submit comments in writing on this application to the Federal Reserve Bank of San Francisco, P.O. Box 7702, San Francisco, CA 94120-7702, or via email: (/cdn-cgi/l/email-protection#86d5c0a8d5c5a8c5e9ebebe3e8f2f5a8c7f6f6eaefe5e7f2efe9e8f5c6f5e0a8e0f4e4a8e9f4e1). The comment period will not end before (date - must be no less than 30 days from date of first notice). The Board's procedures for processing applications may be found at 12 C.F.R. Part 262. Procedures for processing [...] You are invited to submit comments in writing on this application to the Federal Reserve Bank of San Francisco, P.O. Box 7702, San Francisco, CA 94120-7702, or via email: (/cdn-cgi/l/email-protection#7221345c21315c311d1f1f171c06015c3302021e1b1113061b1d1c013201145c1400105c1d0015). The comment period will not end before (date-must be no less than 15 days from date of notice). The Board's procedures for processing applications may be found at 12 C.F.R. Part 262. Procedures for processing protested [...] You are invited to submit comments in writing on this application to the Federal Reserve Bank of San Francisco, P.O. Box 7702, San Francisco, CA 94120-7702, or via email: (/cdn-cgi/l/email-protection#287b6e067b6b066b4745454d465c5b0669585844414b495c4147465b685b4e064e5a4a06475a4f). The comment period will not end before (date - must be no less than 30 days from date of first notice). The Board's procedures for processing applications may be found at 12 C.F.R. Part 262. Procedures for processing

    Location Data

    Escuela Primaria Rural Fed. Benito Juárez, Calle Francisco I. Madero, San Gabriel, San Cristóbal, Ajuchitlán del Progreso, Guerrero, 40730, México

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    Coordinates: 18.1594976, -100.4568279

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