As part of her regional responsibilities, the Federal Reserve’s regional executive recently conducted a series of engagements across Northern California, Western Nevada, and Hawai’i to gather firsthand insights into local economic conditions. These interactions complement quantitative data used in shaping national monetary policy.
Her itinerary included visits to Oakland, Sacramento, Merced, and Fresno—key locations within the Twelfth District, which spans nine western U.S. states, two territories, and a commonwealth.
In Oakland, she met with the Executive Director of the Port of Oakland, a critical hub for containerized cargo in Northern California. Data from July 2025 indicates that over 99% of such goods moving through the region pass through this port. Based on 2023 figures, it ranks as the ninth busiest container port in the United States.
Discussions covered the effects of tariffs and economic uncertainty on business planning, shifts in consumer demand reflected in air cargo and passenger trends, labor market dynamics, and ongoing challenges in commercial real estate, particularly in areas like Jack London Square.
In West Sacramento, she joined Laura Choi, Executive Vice President of Regional Engagement, for a meeting with executives from Raley’s, a major regional grocery chain operating across several states. The conversation focused on how the company is adapting to evolving consumer spending habits, rising operational costs, and workforce fluctuations.
Choi later shared on LinkedIn that the visit deepened her understanding of the complexities involved in scaling and sustaining a regional food retailer.
The delegation then toured Siemens Mobility’s manufacturing facility in Sacramento, where rail cars for transit systems—including San Francisco’s Muni—are produced. They discussed supply chain resilience, manufacturing sector conditions, and the potential influence of emerging technologies like generative AI on design and testing workflows.
The tour underscored the intricate engineering and technological integration involved in public transportation infrastructure.
At the University of California, Merced, she learned how the institution contributes to regional economic development as both a major employer and an innovation driver. Its research programs and collaborations with local firms stimulate job creation and enhance the area’s intellectual capital. The university also prioritizes enrolling students from economically disadvantaged backgrounds and supporting their academic and career success.
Engagements with the Fresno Chamber of Commerce and the Merced County Hispanic Chamber of Commerce provided opportunities to explain the Federal Reserve’s role in the economy. She outlined the central bank’s dual mandate, its 2% inflation target, and how input from business leaders informs policy decisions.
These meetings helped demystify the institution and foster trust. As she noted, “Showing up and listening to our constituents and sharing how we strive to serve them is essential to our collective success.”
The trip highlighted the importance of direct community engagement. Despite economic uncertainties, local leaders demonstrated resilience, optimism, and dedication to their communities.
These field visits support the Federal Reserve Bank of San Francisco’s mission to strengthen the nation’s financial and payment systems for the benefit of all Americans.
— news from Federal Reserve Bank of San Francisco
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As regional executive, a big part of my role is to engage with business and banking leaders to gather real-time information on local economic conditions. The insights are important as they provide context to quantitative data and analyses that the Federal Reserve uses to guide its monetary policy efforts. n nWithin the Twelfth District, which represents the nine western states, two territories, and a commonwealth, I’m focused on engaging with leaders in Northern California, Western Nevada and Hawai’i. n nIn recent weeks, I traveled to Oakland and up and down the I-5 to Sacramento, Merced, and Fresno to get a pulse on economic conditions in the region. n nOakland n nI started off in Oakland, where I met with the Executive Director of the Port of Oakland to hear her perspectives on the port’s operations and its role in regional economic growth. n nJuly 2025 data shows that the Port of Oakland loads and discharges more than 99% of the containerized goods moving through Northern California. Oakland’s cargo volume makes it the ninth busiest container port in the U.S. based on 2023 data. n nThe Port Director provided valuable insights into current economic conditions, detailing the impact of tariffs and economic uncertainties on business decision-making. Furthermore, she provided information on consumer demand, as reflected by fluctuations in airline passenger and cargo volumes. The discussion also delved into the dynamics of the local labor force and the persistent challenges within the commercial real estate sector, and Jack London Square, in particular. n nSacramento n nFollowing that, I traveled to West Sacramento with Laura Choi, Executive Vice President of Regional Engagement. We met with the leadership team of Raley’s, a prominent regional grocery chain with stores operating across multiple states, including California. The meeting offered valuable information on how management is responding and adapting to the changes in consumer spending trends, operating costs, and labor market dynamics that are shaping the grocery industry. n nLaura shared her experience on LinkedIn, writing, “It gave me a deeper appreciation for the opportunities and challenges of operating a regional grocery chain, particularly around issues of scale and growth.” n nAs Laura and I headed south in Sacramento, we visited Siemens Mobility’s manufacturing facility. We saw the production of rail cars for global transit systems, including San Francisco’s Muni. n nWe discussed the resilience of the company’s supply chains and economic conditions within the manufacturing sector. We also touched on the potential impact of emerging technologies, such as generative AI, on design and testing processes. n nThe tour of their facilities highlighted the incredibly detailed planning, design and technology behind rail cars and transit systems. I’ll never look at a Muni car in the same way again. n nMerced n nI then traveled to visit with leaders at the University of California, Merced. I learned more about the role it plays in the region’s economic development by being a significant employer and a catalyst for innovation. n nUC Merced’s research initiatives and partnership with local businesses stimulate economic growth, create job opportunities, and contribute to the region’s intellectual capital. The university is committed to attracting students from economically disadvantaged backgrounds and helping them complete degrees and graduate into promising careers. n nI’m grateful for the connections that I made at the university. This engagement helped me gain deeper understanding of the multifaceted economic impact that UC Merced has on the region. n nFresno n nWhile in Fresno and Merced, I had the opportunity to build relationships with local Chamber of Commerce groups. I presented an overview of what the Federal Reserve System does and how it serves the American people. n nThe Fresno Chamber and the Merced County Hispanic Chamber of Commerce play crucial roles in advocating for businesses in the region, providing resources, networking opportunities, and support to foster economic growth and development. n nI appreciated the opportunity to personalize and demystify the Federal Reserve. I enjoyed addressing their numerous questions, including inquiries about our dual mandate, our two percent inflation goal, and the ways we utilize information from business leaders to inform monetary policy decisions. n nAt the end of trip, I couldn’t help but feel inspired by the dedication of the leaders I encountered. Despite higher levels of uncertainty and ever evolving challenges, they exhibited remarkable levels of optimism, perseverance and commitment to their customers and communities. n nThese experiences also underscored the critical importance of being present in the communities we serve. Showing up and listening to our constituents and sharing how we strive to serve them is essential to our collective success. These engagements help us foster stronger, more trusting relationships with the communities we serve. n n“Showing up and listening to our constituents and sharing how we strive to serve them is essential to our collective success.” n nI am excited for opportunities to spend time in our communities to learn about local economies and share about what the Federal Reserve System does and our role at the SF Fed. These regional engagements further the Federal Reserve Bank of San Francisco’s mission of advancing the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans. n nEnd Notes