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Keywords:covid19 

Speech
We Can’t Afford Not To

Virtual Event at The National Press Club, by Mary C. Daly, President and CEO, Federal Reserve Bank of San Francisco, June 15, 2020.
Speech

Journal Article
An Unemployment Crisis after the Onset of COVID-19

The COVID-19 pandemic has upended the U.S. labor market, with massive job losses and a spike in unemployment to its highest level since the Great Depression. How long unemployment will remain at crisis levels is highly uncertain and will depend on the speed and success of coronavirus containment measures. Historical patterns of monthly flows in and out of unemployment, adjusted for unique aspects of the coronavirus economy, can help in assessing potential paths of unemployment. Unless hiring rises to unprecedented levels, unemployment could remain severely elevated well into next year.
FRBSF Economic Letter , Volume 2020 , Issue 12 , Pages 5

Journal Article
The Unequal Impact of COVID-19: Why Education Matters

Since COVID-19 hit the United States, more than 20 million American workers have become unemployed and countless others have left the labor force altogether. While the labor market disruptions have affected workers in a wide set of industries and occupations, those without a college degree have experienced the most severe impact. Addressing gaps in educational attainment will be important to creating better economic resiliency for individuals against future shocks.
FRBSF Economic Letter , Volume 2020 , Issue 17 , Pages 5

Journal Article
Market Assessment of COVID-19

News about the COVID-19 public health crisis has affected asset prices to varying degrees across sectors of the U.S. economy. Stocks in the utilities, real estate, and energy sectors initially suffered the worst sector-specific shocks, while the information technology, health-care, and telecommunications sectors fared relatively better. Businesses with higher financial leverage saw larger declines in their valuations. A simultaneous repricing of credit derivatives suggests concerns about insolvency contributed to the valuation declines. Although some stocks are recovering from the initial ...
FRBSF Economic Letter , Volume 2020 , Issue 14 , Pages 5

Journal Article
The COVID-19 Fiscal Multiplier: Lessons from the Great Recession

The United States enacted a series of fiscal relief and stimulus bills in recent weeks, centered around the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The current fiscal response shares key similarities to the fiscal stimulus enacted during the Great Recession. Research over the past 10 years on the macroeconomic impact of that stimulus thus has important implications for the current fiscal response. The results point to a large potential impact on GDP.
FRBSF Economic Letter , Volume 2020 , Issue 13 , Pages 5

Blog
Which Workers Have Been Most Affected by the COVID-19 Pandemic?

Occupations that earn less than $34,963 on average—such as cashiers, servers and janitors—accounted for 34% of the increase in unemployment from January to April.
On the Economy

Blog
Bank Supervision Adapts to Pandemic Challenges

Communication between bank management and bank supervisors will remain vital to understanding the challenges banks are facing.
On the Economy

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