In remarks in New York City on September 4, New York Fed President John C. Williams discussed his outlook for the economy and how he sees the path forward in the current moment.
September 4, 2025
Key Takeaways from President Williams’s Speech on the Economic Outlook and Monetary Policy
Posted in Economic Outlook | Permalink
August 25, 2025
Key Takeaways from President Williams’s Remarks on the Economic Stars
In remarks at a conference in Mexico City on August 25, New York Fed President John C. Williams addressed three questions pertaining to the importance, measurement, and use of time-varying unobservable variables at central banks, with a particular focus on the neutral rate of interest, or r-star.
August 13, 2025
Data Security, AI, and Infrastructure: Examining Cyber Risk in the Financial System
Earlier this year, the New York Fed and Columbia University’s School of International and Public Affairs (SIPA) co-organized the sixth annual State-of-the-Field Conference on Cyber Risk to Financial Stability. Since 2017, this collaboration between the New York Fed and SIPA has sought to address three key questions: What are we learning about cyber risk to financial stability? What are we doing to improve resilience and stability? And what’s next?
Posted in Technology | Permalink
August 7, 2025
Nanotech, Semiconductors, and Workforce Challenges: A Visit to the Capital Region
New York Fed President John C. Williams spent two days in June visiting leaders in government, business, and economic and community development in New York’s Capital Region to learn more about the area’s economic opportunities and challenges. The visit—part of the New York Fed’s ongoing efforts to assess economic conditions across the Federal Reserve’s Second District—gave President Williams an opportunity to engage directly on issues specific to the region.
Posted in Regional Visits | Permalink
July 17, 2025
Federal Reserve Repo and Reverse Repo Market Operations: 2015 to Now
In a prior article, we discussed the scarce reserves regime the Fed used to implement monetary policy before the global financial crisis, and how the Fed’s repo and reverse repo operations evolved in response to the crisis. In this article, we explore the continued evolution of repo and reverse repo operations—namely, how they were structured to address the spike in repo rates in September 2019 and the extraordinary market dislocations at the onset of the COVID-19 pandemic in March 2020.
July 16, 2025
Key Takeaways from President Williams’s Speech on the Economic Outlook and Monetary Policy
In remarks in New York City on July 16, New York Fed President John C. Williams discussed what the latest data are saying in light of economic uncertainty, and how he expects the effects of tariffs to take shape.
Posted in Economic Outlook | Permalink
Federal Reserve Repo and Reverse Repo Market Operations: Before the Global Financial Crisis to 2015
Repurchase and reverse repurchase operations—or “repo and reverse repo” transactions—are critical to the Federal Reserve’s implementation of monetary policy. Alongside a broader suite of open market operations, these transactions influence interest rates and support smooth market functioning by helping to maintain the federal funds rate well within the target range set by the Federal Open Market Committee.
June 24, 2025
Key Takeaways from President Williams’s Speech on the Economic Outlook and Monetary Policy
In remarks in Albany on June 24, New York Fed President John C. Williams discussed what recent soft data and hard data reveal about the U.S economy, and how the totality of the data is informing his economic outlook.
Posted in Economic Outlook | Permalink
June 20, 2025
Ideas in Focus at This Year’s Monetary Policy Implementation Workshop
The continued unwinding of large central bank balance sheets in the post-pandemic period and its impact on financial markets and the broader economy have presented several policy and monetary policy implementation questions in the U.S. and abroad. To help address this, the Federal Reserve Bank of New York and Columbia University’s School of International and Public Affairs hosted a workshop on “Unwinding Large Central Bank Balance Sheets” in May. The workshop’s three panels brought together academics, industry and public policy experts, and current and former central bankers. In this article, we highlight the main themes from the day’s discussions.
Posted in Monetary Policy Implementation | Permalink
June 5, 2025
The Research Scouting Team: A Resource in Uncharted Territory
As the director of research at the New York Fed, I lead a team that intensively studies the economy. In addition to evaluating monetary policy and labor markets, our team works to better understand topics including financial market function, supply chain constraints, hybrid work, student loan delinquencies, and housing starts.
Posted in Economic Insights | Permalink
