At the New York Fed, our mission is to make the U.S. economy stronger and the financial system more stable for all segments of society. We do this by executing monetary policy, providing financial services, supervising banks and conducting research and providing expertise on issues that impact the nation and communities we serve.
The New York Fed established the New York Innovation Center (NYIC) in 2021 with the support of its strategic partner, the Bank for International Settlements (BIS), to explore the potential of technological innovation in central banking to benefit the global financial system.
On Tuesday, May 9, 2023, New York Fed President John Williams spoke at an event hosted by the Economic Club of New York. He discussed inflation, the labor market, and the importance of price stability.
The New York Fed’s Community Development team is researching what private investments in affordable apartments mean for the supply of affordable rentals and the rents tenants pay. As part of that work, the team published a case study in March based on a survey of managers of private investment vehicles, which found that respondents raised a median $300 million in equity for affordable-housing private investment vehicles since 2017. The team also brought together private investors, affordable-housing advocates, and experts in the field for an in-person event on March 27, 2023.
On March 31, New York Fed President John C. Williams traveled to Fairfield County, Connecticut, to hear from local stakeholders about economic conditions in the region. Fairfield County is part of the Federal Reserve’s Second District, which also encompasses New York State, Northern New Jersey, Puerto Rico, and the U.S. Virgin Islands. During the daylong visit, President Williams met with government officials, students, business owners, job seekers, and nonprofit and community leaders. Here are the key themes that emerged in these meetings and discussions:
On Wednesday, April 19, 2023, New York Fed President John Williams spoke at an event hosted by the Money Marketeers of New York University. He discussed inflation, credit conditions, and the steps the Federal Reserve is taking to restore price stability.
The New York Fed’s Legal Group launched the Pro Bono Legal Work Program in early 2021 to encourage staff to provide free legal services to those in need.
On Friday, March 31, 2023, New York Fed President John Williams spoke at an event hosted by Housatonic Community College. He discussed inflation, credit conditions, and the ways in which monetary policy is working to restore balance in the economy.
The high school students sitting in small groups in the New York Fed’s Museum and Learning Center had received clear instructions about the 30 paper slips on each group’s table: Using their non-dominant hands, students could grab one piece of paper at a time during each of five 20-second rounds. At the end of each round, each group would receive either double the number of slips left on the table or 10 additional slips. The goal: Maximize the number of paper slips held by each group.
On Tuesday, February 14, 2023, New York Fed President John Williams spoke at an event hosted by the New York Bankers Association. He discussed inflation, imbalances in supply and demand, and the ways in which monetary policy is working to restore balance in the economy.
In an article for the Federal Reserve System’s Community Banking Connections publication, Dianne Dobbeck, head of Supervision at the New York Fed, discussed technological developments in the financial services industry and the need for firms to practice responsible innovation to protect consumers and ensure the safety and soundness of the financial system.
