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.
July 11, 2023
Key Takeaways from President Williams’s Interview with the Financial Times
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
April 19, 2023
Key Takeaways from President Williams’s Speech on Attaining and Maintaining Price Stability
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.
Posted in Economic Outlook | Permalink
April 12, 2023
Through Pro Bono Program, New York Fed Legal Group Volunteers Bring Services to Those in Need
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.
Posted in Community Development | Permalink
March 31, 2023
Key Takeaways from President Williams’s Speech on Achieving Balance Amid Uncertainty
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.
Posted in Economic Outlook | Permalink
