Inflation expectations among businesses can affect how they set current prices. Firms’ expectations diverged from those of ...

Firms frequently revise not only their expectations, but also how uncertain they feel about those expectations. Using the U.S. Survey of Business Uncertainty, we study perceived uncertainty about ...

Academic research by SF Fed economists and affiliates intended for publication in scholarly journals. This section contains selected working papers on monetary economics and macro-finance topics that ...

The Federal Reserve’s balance sheet—a record of its assets and liabilities—provides important information about the scale and scope of its open market operations, a key monetary policy tool. Expanding ...