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Report
Transforming financial services. Banking supervision’s Tracy Basinger explains why the intersection of finance and technology–fintech–is a matter of great importance and interest to the Fed
Innovations in technology are transforming relationships between the Fed, the banks we supervise, and their customers. In our 2015 annual report, What We've Learned?and why it matters, we explain how the Fed is poised to evolve alongside fintech innovations.
Report
Gateway to Asia
Asia?s growing influence in the United States - economically and culturally - is very apparent in the Federal Reserve?s Twelfth District. The nine western states form a geographical gateway to Asia, and because of the close ties, can provide insight into Asian economic and financial developments. The Twelfth District is an attractive destination for trade and investment by Asian companies because of its location. Also, the District?s geographical position has contributed to a long and rich history of Asian immigration into the region.
Report
The future of cash. Claire Wang and Doug Conover from the Federal Reserve's Cash Product Office discuss cash use and innovation in cash processing technology with First Vice President Mark Gould
An important role of the Federal Reserve is to maintain the quality and integrity of U.S. currency. The Cash Product Office has learned through its Diary of Consumer Payment Choice research that cash continues to play a key role in consumer spending. We've found that even if cash use were to decline 2 percent over the next 20 years, the Federal Reserve would still be counting 20 billion notes. For the 2015 annual report, What We've Learned...and why it matters, we understand that Reserve Banks will continue to process and count an extremely high volume of cash. In serving financial ...
Report
A tale of two giants: comparing China and India
Accounting for 40 percent of the world?s population and almost 20 percent of the world?s output, China and India are two of Asia?s?indeed, the world?s?economic giants. In addition to their size, these countries have other traits in common. Both are among the fastest-growing economies in the world, and both are transitioning from heavily state-controlled and regulated economies to more market-based economic systems.
Report
The San Francisco Fed and the West: a century of reinvention
John C. Williams and Sam Zuckerman explore how our region grew into an economic and cultural pacesetter for the world, and how the San Francisco Fed evolved to become part of a 21st century central banking system. The story offers important lessons on what it took for the West to become a force for economic progress during the past century and how the qualities rooted in the spirit of the region will be essential in the years ahead.
Report
Redefining the labor market. SF Fed economists Rob Valletta, Nicolas Petrosky-Nadeau, and Mary C. Daly share their thoughts on the U.S. labor market with fellow economist President John Williams
Changes in demographics, and in employer and worker needs, have redefined the U.S. labor market. We discuss the "new normal" in our 2015 annual report, What We've Learned?and why it matters. Observations include how the gig economy?or sharing economy?is affecting the part-time workforce. We also look at influences on labor force participation rates and clarify the math behind sluggish wage growth. A consideration for both is the retirement of higher-earning baby boomers and the increase in steady employment for lower-wage workers.
Report
China in the global economy. SF Fed President John Williams talks with Zheng Liu, Mark Spiegel, and Fernanda Nechio of the international research team about China's economic slowdown and how it's affecting global economic activity
In the 2015 annual report, What We've Learned...and why it matters, we share our research findings about the slowdown in China's economic growth and its effects on the U.S. economy, emerging market economies, and global commodity markets. Cyclical and structural factors underlie the slowdown. We discuss the impact of trends in exports and investment, and the country's transformation from a manufacturing-based economy to a service-based economy. We believe China's days of 10 percent economic growth likely are over.