In remarks in New York City on January 12, New York Fed President John C. Williams discussed what he expects to see this year for the U.S. economy and for monetary policy.
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.
Julie Lasson
In remarks in New York City on January 12, New York Fed President John C. Williams discussed what he expects to see this year for the U.S. economy and for monetary policy.
Christian Cabanilla, Roberto Perli, and Julie Remache
The Federal Reserve (Fed) implements monetary policy through an ample reserves framework, where a sufficient supply of reserves allows the federal funds rate and other short-term interest rates to be primarily controlled through administered rates set by policymakers. In this article, we provide insight into some of the tools the Fed uses to implement monetary policy, with a focus on recent changes to standing repo operations.
Ellen Correia Golay and Trevor Graney
As the deepest and most liquid securities market worldwide, the U.S. Treasury market plays a critical role in the global economy. As Treasury Secretary Scott Bessent said in his remarks, “Maintaining a robust Treasury market—and strengthening it even further—is essential.”
Judy DeHaven
In remarks in New Jersey on December 15, New York Fed President John C. Williams discussed the U.S. economy and how the Federal Reserve is working to achieve its dual mandate of maximum employment and price stability. He also provided his economic outlook.
Shawn Phillips
New York Fed President John C. Williams visited Rochester and Syracuse, New York, in late September to gain insights on the economy of the cities and surrounding region. The two days of meetings, roundtable discussions, and site visits with local leaders highlighted key trends shaping the future of Central New York and the Finger Lakes region.
Judy DeHaven
In remarks at a conference celebrating the centennial of the Central Bank of Chile on November 21, New York Fed President John C. Williams discussed the importance of inflation targeting in helping central banks achieve price stability and better economic outcomes, particularly after the onset of the COVID-19 pandemic. He also gave his views on inflation, employment, and monetary policy in the United States.
Gara Afonso, Gonzalo Cisternas, and Will Riordan
The Federal Home Loan Bank (FHLB) system was created almost a century ago and has evolved over time to play an important role in monetary policy implementation. It is a key participant in money markets, providing liquidity to thousands of financial institutions in the U.S. This article looks at why this system was created, how it is structured, and the composition of its balance sheet.
Brian Manning
On Sunday, November 9, the Financial Times published a transcript of an interview with New York Fed President John Williams. In the interview, he discussed monetary policy, the economic outlook, and the Fed’s balance sheet and policy tools.
Judy DeHaven
In remarks at the ECB Conference on Money Markets on November 7, New York Fed President John C. Williams discussed the frameworks and tools that central banks use to implement monetary policy. In particular, he talked about the Federal Reserve’s operational framework and balance sheet strategy, and he gave an update to the Fed’s transition to an ample level of reserves.
Daniel Maddy-Weitzman
This is part of an ongoing educational series on nonbank financial institutions.
Nonbank financial institutions (NBFIs) play a critical role in private credit, which has recently become a key source of financing for corporations. In this article, we describe private credit and its recent growth, the role of NBFIs in the private credit ecosystem, and how private credit interacts with the Federal Reserve’s monetary policy, prudential supervision, and financial stability objectives.
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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