On Monday, August 7, The New York Times published a transcript of an interview with New York Fed President John Williams. In it, he discussed inflation, the labor market, and his outlook for monetary policy.
August 7, 2023
Key Takeaways from President Williams’s Interview with The New York Times
Posted in Economic Outlook | Permalink
July 28, 2023
Engaging Future Central Bankers: Newark Seventh Graders Visit the New York Fed
About 1,800 students, teachers, and chaperones from the Newark public school system visited the New York Fed’s Museum & Learning Center over three months this spring. The visits were part of the New York Fed’s outreach efforts to engage every seventh-grade class in the New Jersey school district, the third largest in the New York Fed’s Second District after New York City and Puerto Rico.
Posted in Economic Education | Permalink
July 18, 2023
Five Messages from the 2023 Governance and Culture Reform Conference
On June 20, the New York Fed hosted a half-day conference focused on culture in financial services. The event was part of the Governance and Culture Reform initiative’s ongoing efforts to understand and influence industry norms to help create a safer and more trustworthy banking sector. Here are the key themes that emerged during the day’s discussions:
Posted in Banking Culture | Permalink
July 11, 2023
Key Takeaways from President Williams’s Interview with the Financial Times
On Tuesday, July 11, The Financial Times published the transcript of an interview with New York Fed President John Williams. In it, he discussed inflation, the labor market, and his economic outlook.
Posted in Economic Outlook | Permalink
June 26, 2023
FedNow Is Coming in July. What Is It, and What Does It Do?
On March 15, the Federal Reserve announced that the FedNow Service will launch in July 2023. FedNow will “facilitate nationwide reach of instant payment services by financial institutions—regardless of size or geographic location—around the clock, every day of the year.” But what exactly is the FedNow Service, and what does it do? In this article, we describe FedNow at a high level, offer answers to common and anticipated questions about the service, and explain how it will support the provision of instant payment services in the United States.
Posted in Financial Infrastructure | Permalink
June 20, 2023
Slow Road to Recovery: U.S.V.I. Sees Signs of Resilience Amid Range of Difficulties
New York Fed President John C. Williams traveled to the U.S. Virgin Islands last month to hear from government officials, students, business owners, and nonprofit and community leaders about economic conditions in the territory. The U.S. Virgin Islands (U.S.V.I.) are part of the Federal Reserve’s Second District, which also encompasses New York State, northern New Jersey, southwestern Connecticut, and Puerto Rico.
Posted in Regional Visits | Permalink
May 18, 2023
New York Innovation Center: Exploring the Frontier of Central Banking Technology
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.
Posted in Financial Infrastructure | Permalink
May 9, 2023
Key Takeaways from President Williams’s Speech on the Economic Outlook and Monetary Policy
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.
Posted in Economic Outlook | Permalink
May 5, 2023
Key Takeaways From Our Recent Work on Private Investments in Affordable Housing
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.
Posted in Community Development | Permalink
May 4, 2023
Growth, Housing, Jobs, and Education: Hearing Firsthand About Fairfield County’s Economy
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:
Posted in Regional Visits | Permalink
