Data doesn’t always signal turning points in the economy. But sometimes conversations do.
April 2, 2025
March 21, 2025
Key Takeaways from President Williams’s Speech on Monetary Policy and the Economy
In remarks at the Macroeconometric Caribbean Conference on March 21, New York Fed President John C. Williams discussed the economy and monetary policy in the context of a changing and uncertain landscape. He also talked about global inflationary trends, inflation expectations, and how the Federal Reserve is working to achieve its dual mandate of maximum employment and price stability.
Posted in Economic Outlook | Permalink
March 6, 2025
Highlights from Roberto Perli’s Speech on Monetary Policy Implementation
Roberto Perli, manager of the Federal Reserve’s System Open Market Account (SOMA), spoke before the Money Marketeers of New York University on March 5. He discussed monetary policy implementation issues related to the process of reducing the size of the Federal Reserve’s balance sheet and the related transition from an abundant to an ample supply of reserves.
Posted in Monetary Policy Implementation | Permalink
February 19, 2025
Creating a More Robust Secondary Market for CDFI Loans: Insights from CDFI Loan Funds
The New York Fed’s Community Development team has been studying how the secondary market for loans originated by Community Development Financial Institutions (CDFIs) could be expanded. A more robust secondary market for loans made by CDFIs, which specialize in lending to low- and moderate-income communities, would give CDFIs greater access to capital. That, in turn, could increase the capital available to borrowers in the rural communities, suburbs, and urban neighborhoods CDFIs serve.
Posted in Community Development | Permalink
February 13, 2025
The Role of Nonbank Financial Institutions in Monetary Policy
This is the second in an ongoing series on nonbank financial institutions. Read the first article on the basics of NBFIs.
The Federal Reserve has historically relied on commercial banks and select broker-dealers to implement and transmit monetary policy. In recent years, nonbank financial institutions (NBFIs) have taken on increasingly important roles. As discussed in a previous article, NBFIs are financial companies that perform a variety of financial services but do not have a bank license. Examples of NBFIs include investment funds, pension funds, insurers, government-sponsored entities, and broker-dealers. In this article, we discuss some of the ways that NBFIs contribute to the implementation and transmission of monetary policy in the United States.
February 11, 2025
Key Takeaways from President Williams’s Speech on the Economic Outlook and Monetary Policy
In remarks at Pace University on February 11, New York Fed President John Williams discussed the economy and monetary policy. He also offered his economic outlook.
Posted in Economic Outlook | Permalink
February 6, 2025
The FX Market’s Evolution in Focus at 2024 Conference
The foreign exchange (FX) market is the largest financial market by trading volume in the world, with average daily turnover of approximately $7.5 trillion. It has become increasingly complex over time, as its structure has undergone shifts in the types of market participants, the jurisdictions in which they transact, and the mix of instruments traded. The FX market also plays a critical role in supporting international trade, investment, and finance. With this in mind and in light of its role in monitoring and participating in the market, the Federal Reserve Bank of New York hosted the FX Market Structure Conference in November of last year.
Posted in Financial Markets | Permalink
January 16, 2025
Monitoring Money Market Dynamics Around Year‑end
A core responsibility of the Open Market Trading Desk (the Desk) at the New York Fed is to closely monitor developments in financial markets. The Desk pays particular attention to those markets, such as money markets, in which it conducts open market operations to implement monetary policy at the direction of the Federal Open Market Committee (FOMC). For example, the overnight reverse repurchase agreement (ON RRP) facility and standing repurchase agreement facility (SRF) are executed in the market for repurchase agreements, or repos, to keep the federal funds rate—the FOMC’s policy rate—in its target range.
January 15, 2025
Key Takeaways from President Williams’s Speech on the Economic Outlook and Monetary Policy
In remarks in Hartford, Connecticut on January 15, New York Fed President John C. Williams spoke about the rise and fall of inflation, how monetary policy is working to achieve the Fed’s dual mandate of maximum employment and price stability, and the regional economy. He also provided his economic outlook.
Posted in Economic Outlook | Permalink
December 11, 2024
Exploring Industries Present and Future: On the Ground in New York’s Southern Tier
New York Fed President John C. Williams traveled to the Southern Tier region of New York State in October to hear from stakeholders about local economic conditions. He met with economic development officials, business owners, nonprofit and community leaders, and academics and students during this two-day Second District regional visit.
Posted in Regional Visits | Permalink
