The Teller Window - A view into the work of the New York Fed

Transforming Communities: Driving and Assessing Investment

This Tuesday, December 12, the Local Initiatives Support Corporation (LISC) and the New York Fed will convene a summit on community development finance. Transforming Communities: Driving and Assessing Investment will advance critical dialogues around defining how community development finance tools can support under-resourced areas, determining the metrics to assess impact, and identifying opportunities for partnerships. Ahead of the conference, we asked senior leaders Denise Scott from LISC and Eric Belsky from the Federal Reserve Board about their views on these issues — from the perspectives of both the policymaker and the practitioner.

Posted in Community Development | Permalink

Monthly Wrap‑Up: November 2017

A recap of insights, analysis and discussions we don’t want you to miss. Each month we compile key highlights from selected publications, events and perspectives to provide you with a deeper look into the work we do at the New York Fed.

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On the Road Again: Syracuse, Ithaca, and Rochester Aim for a More Inclusive Economy

Chelsea Cruz, Senior Program Manager, and Betsy Bourassa, Media Relations Associate, Communications and Outreach

For our third regional visit of the year, we traveled to Syracuse, Ithaca, and Rochester. The stops on our trip varied widely — from visiting a drone accelerator site, to meeting with members working on an anti-poverty initiative. Throughout, we heard from community leaders about their efforts to address challenges, such as developing a strong workforce and tackling poverty. We also learned about the promising industries in their communities and their hopes for future growth.

Posted in Regional Visits | Permalink

CoDeFi: Our Efforts to Transform Communities

Adrian Franco, Officer and Director, and Chelsea Cruz, Program Manager, Communications and Outreach

Promoting community development is an important function of the Federal Reserve System. Through a variety of programming and analysis, the New York Fed seeks to help advance economic mobility and resiliency of communities across the Second District. As part of that effort, we encourage capital providers to allocate funding to innovative, measurable, and impactful projects. This year, we’ve taken steps to formalize our work and create a new team in the Outreach & Education function focused on this space by launching the Community Development Finance initiative (CoDeFi).

Posted in Community Development | Permalink

Monthly Wrap‑Up: October 2017

A recap of insights, analysis and discussions we don’t want you to miss. Each month we compile key highlights from selected publications, events and perspectives to provide you with a deeper look into the work we do at the New York Fed.

Posted in general | Permalink

Credit Access: A Window Into Economic Well‑Being

Kausar Hamdani, Senior Vice President; Claire Kramer-Mills, Assistant Vice President and Community Affairs Officer; and Jessica Battisto, Senior Analyst

Last week, we released the City of Rochester Credit Profile, a prototype report for assessing economic well-being at the neighborhood level. It’s based on our Community Credit framework, and to understand what’s new and why this is significant, we’ll take a step back and explain the framework first.

Posted in Community Development | Permalink

Monthly Wrap‑Up: September 2017

A recap of insights, analysis and discussions we don’t want you to miss. Each month we compile key highlights from selected publications, events and perspectives to provide you with a deeper look into the work we do at the New York Fed.

Posted in general | Permalink

On the Job to Promote Workforce Development

Tony Davis, Officer and Director

We’re midway through our third roadshow of the year, which has given us the opportunity to visit local business, education, and community leaders in Syracuse, Ithaca, and Rochester, New York. This morning, President Dudley delivered remarks on workforce development during our first stop at Onondaga Community College.

Posted in Community Development | Permalink

Monthly Wrap‑Up: August 2017

A recap of insights, analysis and discussions we don’t want you to miss. Each month we compile key highlights from selected publications, events and perspectives to provide you with a deeper look into the work we do at the New York Fed.

Posted in general | Permalink

Over the River and Through the Adirondacks: What We Learned in New York’s North Country Region

Chelsea Cruz, Program Manager, and Brian Manning, Media Relations Associate, Communications and Outreach

For our second regional visit of the year, we ventured about as far north as you can go in New York State, spending two days in June in the North Country region, where President Dudley and members of our staff visited Plattsburgh, Potsdam, and Fort Drum, in Jefferson County near Watertown. The local leaders we met with told us about successes and challenges alike, including the significance of having Canada as a close neighbor; concerns related to workforce development, demographics, and access to broadband; why collaboration matters for regional businesses and institutions; and how Watertown has a unique relationship with Fort Drum, a major military installation in the area.

Posted in Regional Visits | Permalink