As the year comes to a close, the Federal Reserve Bank of San Francisco (SF Fed) has highlighted its most widely read Economic Letter topics for 2025. The Economic Letters feature research and insights from economists and research staff at the SF Fed, offering analysis on key issues affecting the economy.
The SF Fed is part of the U.S. central banking system and serves the Twelfth Federal Reserve District. This district includes nine western states—Alaska, Arizona, California, Hawai’i, Idaho, Nevada, Oregon, Utah, and Washington—as well as American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands.
According to information released by the bank: “The Federal Reserve Bank of San Francisco (SF Fed) works 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, the SF Fed serves 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. By pursuing our two key goals of maximum employment and price stability—known as the Fed’s dual mandate—we work toward supporting an economy that works for everyone.”
The announcement encourages readers to explore more details about these topics on their blog.


