The Teller Window
The Teller Window
A view into the work of the New York Fed
May 23, 2019

President Williams Visits Puerto Rico and the U.S. Virgin Islands

Javier Silva, Associate Director for Community Engagement, and Brian Manning, Corporate Communications Senior Associate, Communications and Outreach

New York Fed President John C. Williams visited Puerto Rico and the U.S. Virgin Islands in late March, where he met with elected officials and community and business leaders to gain a deeper understanding of current economic conditions and the continuing recovery efforts in the aftermath of Hurricanes Irma and Maria. The hurricanes battered the region in quick succession in late 2017, and the islands still have a long road to recovery. This was President Williams’ first regional visit of the year, and topics in focus included ongoing hurricane recovery efforts, collaboration among organizations, a burgeoning entrepreneurship and start-up ecosystem, and the numerous challenges small businesses face.

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Posted in Regional Visits | Permalink
May 14, 2019

Key Takeaways from President Williams’s Speech on How to Prepare for a World Where Low R‑Star Prevails

Felicity Barber, Executive Speech Writer, Communications and Outreach

On Tuesday, May 14, New York Fed President John Williams spoke at the 9th High-Level Conference on the International Monetary System, hosted by the International Monetary Fund and the Swiss National Bank.

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Posted in Economic Outlook | Permalink
May 10, 2019

Key Takeaways from President Williams’s Speech on the Economic Outlook and Implications for Monetary Policy

Felicity Barber, Executive Speech Writer, Communications and Outreach

On Friday, May 10, New York Fed President John Williams spoke at the 21st Annual Bronx Bankers Breakfast.

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Posted in Economic Outlook | Permalink
May 9, 2019

From Frame to Frame: The Making of a Comic Book Series

Jennifer Kahn, Senior Associate, and Thomas Bayne, Associate, Communications and Outreach

The New York Fed recently published The Story of Monetary Policy, the third issue of its new Educational Comic Book Series. In the story, intrepid characters travel to previously unseen worlds, meeting new friends and teaching economic lessons along the way. Today, we offer a behind-the-frames look at the comic book’s production — from idea to sketch to print — and the creation of a world “way, way out at the edge of the universe” to educate students about economics and monetary policy.

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Posted in Economic Education | Permalink
May 7, 2019

Takeaways from Lorie Logan’s Remarks on Implementing Monetary Policy in an Ample‑Reserves Regime

Brian Manning, Corporate Communications Senior Associate, Communications and Outreach

During a press conference following last week’s meeting of the Federal Open Market Committee (FOMC), Federal Reserve Chair Jerome Powell pointed out that the Fed has made “consequential decisions” about its balance sheet in recent months, including to maintain its current framework for implementing monetary policy and to slow the pace at which it allows maturing securities to run off. A speech last month by New York Fed senior vice president Lorie Logan provides helpful context around questions about balance sheet normalization and how the Fed could implement monetary policy going forward in light of these decisions by the FOMC.

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Posted in Monetary Policy Implementation | Permalink
May 3, 2019

Comic Books as a Teaching Tool: Making the Language of Economics Universal

Anika Pratt, Assistant Vice President, and Graham Long, Senior Associate, Communications and Outreach

“Way, way out — at the edge of the universe — there’s a little planet called Novus.” So began the New York Fed’s return to publishing comic books to promote economic literacy, especially among students from middle school through college.

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Posted in Economic Education | Permalink
April 15, 2019

Takeaways from Kevin Stiroh’s Remarks on Cybersecurity from a Supervisory Perspective

Brian Manning, Corporate Communications Senior Associate, Communications and Outreach

At a conference at the New York Fed on April 12, EVP Kevin Stiroh discussed the issue of cybersecurity from the perspective of a bank supervisor. He noted that cybersecurity is one of many aspects of operational resiliency for firms:

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Posted in Supervision | Permalink
April 11, 2019

Key Takeaways from President Williams’s Speech: Fulfilling Our Economic Potential

Felicity Barber, Executive Speech Writer, Communications and Outreach

On Thursday, April 11, New York Fed President John Williams spoke at the annual conference of the Association for Neighborhood & Housing Development. He discussed the challenges of inequitable growth and his vision for the New York Fed’s community development work.

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Posted in Community Development | Permalink

Catching up on Open Market Operations? The 2018 SOMA Annual Report and New Data Interactive Has You Covered

New York Fed Markets Group Staff

The New York Fed today released the 2018 annual report of the System Open Market Account (SOMA). Issued to the Federal Open Market Committee (FOMC) for much of the Fed’s history, this report provides a review of open market operations conducted by the Open Market Trading Desk (the Desk), other developments that influenced the Fed’s portfolio of domestic securities, and developments in the Fed’s foreign operations. The SOMA represents the largest asset on the Fed’s balance sheet.

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Posted in Monetary Policy Implementation | Permalink
April 10, 2019

Investing in America’s Workforce: Update on Regional and National Efforts

Tony Davis, Officer and Director, and Edison Reyes, Associate, Communications and Outreach

Since the release of the three-volume book Investing in America’s Workforce: Improving Outcomes for Workers and Employers last year, the Federal Reserve System and its community and business partners have continued to engage communities and workforce stakeholders on the research and promising practices highlighted in the publication. (For a refresh of the main topics the book covers, see this post from Carl E. Van Horn, Distinguished Professor of Public Policy and Director of John J. Heldrich Center for Workforce Development at Rutgers University.)

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Posted in Community Development | Permalink
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About

The Teller Window is a publication featuring expert knowledge and insight from the New York Fed, including thoughts and perspectives from senior leaders. It offers a deep look at issues that matter to the Federal Reserve’s Second District and the nation.

Articles on the Teller Window focus on the people and programs that help the New York Fed support the U.S. economy. They are written for a wide audience with the aim of illustrating what we are doing and why it matters. Stories include editorials, interviews, explainers, and reports on events and trends in our communities and region. The Teller Window is edited by the Communications and Outreach Group on behalf of the New York Fed. Separately, for analysis from New York Fed economists working at the intersection of research and policy, please see Liberty Street Economics.

The New York Fed began publishing on the Teller Window in November 2022. Articles with dates earlier than November 2022 were originally published by the New York Fed on Medium.

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