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About Us
We’re one of 12 regional Federal Reserve Banks working together with the Board of Governors to support a healthy economy. Our job is to serve the American public — to serve you. And our mission is to foster economic stability and strength.

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Economic Research
We conduct research to support policymaking and thought leadership on issues important to the Federal Reserve and the Fifth District. We also inform the public through our data and economic analysis, publications, presentations and educational resources.

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Region & Communities
We share research, data and resources and regularly engage regional leaders and policymakers to understand and address community‑specific economic issues.
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Banking Supervision
We promote the safety and soundness of individual financial institutions, monitor their impact on the financial system, and ensure that financial institutions are protecting consumers.
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Payments Services
We help keep the country's electronic payment system running and make sure banks have enough cash and coin to do business.
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Working Papers

February 2026, No. 26-01

How large are the effects of artificial intelligence (AI) on labor productivity and unemployment?

Ping Wang and Russell Wong

RC Balaban