At the New York Fed, our mission is to make the U.S. economy stronger and the financial system more stable for all segments of society. We do this by executing monetary policy, providing financial services, supervising banks and conducting research and providing expertise on issues that impact the nation and communities we serve.
Earlier this year, the New York Fed released the Long Island Credit Profile, the second in a series of reports examining select geographies in depth using the Community Credit framework and indicators. See our previous post detailing the framework for how to interpret the analytics for practice.
This morning, New York Fed EVP Simon Potter, who heads the Markets Group, spoke at a conference in Paris, France. The remarks, titled “U.S. Monetary Policy Normalization is Proceeding Smoothly,” were delivered at “Exiting Unconventional Monetary Policies,” a conference co-hosted by the Euro 50 Group, CIGI, and the China Finance 40 Forum.
It is increasingly apparent that inclusive growth is an accelerator in achieving the potential of economic growth. There is statistical evidence that inequality inhibits overall productivity, yet it remains a persistent issue for many communities. While this is a global phenomenon, we don’t need to look far to see anecdotal evidence of a widening disparity in the distribution of the benefits of a growing economy.
On Wednesday, October 10, New York Fed President John Williams delivered keynote remarks at a conference in Indonesia. The speech, titled “Moving Toward ‘Normal’ U.S. Monetary Policy,” came at the Joint Bank Indonesia-Federal Reserve Bank of New York Central Banking Forum.
For his first regional roadshow as New York Fed President, John Williams spent the day in New York City’s borough of Brooklyn, meeting with local stakeholders to learn about the issues their communities face. Recurring themes throughout the day included jobs, housing, and other issues related to equitable growth and gentrification; small business concerns such as access to credit; and economic growth factors such as investment and workforce development.
Once again, our summer interns took the reins of the New York Fed’s Twitter handle for a day to highlight experiences here. The interns each came from departments across the institution: Strategic Planning, Audit, Supervision, Financial Services, Markets, and Research & Statistics. Accompanied by photos, the tweets described the interns’ routines, the issues and projects they cover, their check-ins with managers, events held just for interns, and highlights of living (and the perks of working!) in New York City.
The tax bill passed in 2017 includes a provision creating various benefits for investors that move capital gains into designated low-income census tracts, known as Opportunity Zones, through special investment vehicles known as Opportunity Funds.
This is the final essay in a series leading up to Reforming Culture and Behavior in the Financial Services Industry: Progress, Challenges, and the Next Generation of Leaders, a conference the New York Fed is hosting on June 18.
This essay is being published from the New York Fed by a guest writer as part of Reforming Culture and Behavior in the Financial Services Industry: Progress, Challenges, and the Next Generation of Leaders. The views of the author are his own and are offered by the New York Fed to contribute to discussions on this topic.
This essay is being published from the New York Fed by guest writers as part of Reforming Culture and Behavior in the Financial Services Industry: Progress, Challenges, and the Next Generation of Leaders. The views of the authors are their own and are offered by the New York Fed to contribute to discussions on this topic.
