The Teller Window
The Teller Window
A view into the work of the New York Fed
May 28, 2024

Charting a Path Forward for Puerto Rico’s Economy

Jack Gutt

Puerto Rico is on the cusp of a once-in-a-generation opportunity to reshape its economy. That was the consensus at the NEXA Jobs Summit in San Juan, Puerto Rico on April 10-11. This gathering, organized by the Platform for Social Impact, brought together leaders from community and economic development, government, academia, and the private sector. Participants explored how Puerto Rico could take advantage of government and private funds, economic momentum following more than a decade of recession, and a young and capable workforce to develop quality jobs on the Island and address long-term poverty and economic insecurity.

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Posted in Community Development | Permalink
May 15, 2024

Ten Years of Governance and Culture Reform: Taking Stock

Toni Dechario

The New York Fed convened its first event focused on culture in the financial services industry 10 years ago in the wake of the global financial crisis. The conference took place against a backdrop of low public trust in the industry after a series of scandals, including predatory lending, rogue trading, and rate rigging. Participants sought to understand the cultural drivers of misconduct and inspire positive change.

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Posted in Banking Culture | Permalink
May 9, 2024

Teacher Professional Development: Demonstrating Economics Is Integral to Life

Graham Long

Two groups of about 10 teachers stood on opposite sides of the room, each holding a single playing card, their eyes focused on the empty space in the middle of the New York Fed’s Museum and Learning Center. The color of the card told each teacher if they were a buyer or a seller. At the signal, they sprinted into the market, calling out prices and trying to make deals.

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Posted in Economic Education | Permalink
May 3, 2024

Key Takeaways from President Williams’s Speech at the Hoover Monetary Policy Conference

Judy DeHaven

A close-up of a hand holding a red dart pointed against a flat surface.

In remarks delivered at the Hoover Institution, New York Fed President John C. Williams discussed three key principles derived from monetary policy theory and experience that help guide central banks in achieving price stability.

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Posted in Economic Outlook, Monetary Policy Implementation | Permalink
April 11, 2024

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

Julie Lasson

In remarks delivered at the Federal Home Loan Bank of New York’s annual symposium, New York Fed President John C. Williams discussed the progress made in restoring price stability to the economy, the work still needed to return inflation to 2 percent, and the trajectory of the Fed’s balance sheet.

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Posted in Economic Outlook | Permalink
April 9, 2024

A Focus on ‘Equitable’ and ‘Growth’ in Understanding the Economy

Kartik B. Athreya

Though I only just joined the New York Fed in February, I’ve been closely following its equitable growth research for nearly five years. Recently, I spoke with researchers from a broad range of areas across the Federal Reserve System, including micro-, macro-, and financial economics, about why “equitable” and “growth” are important to our understanding of the economy. Given today’s release of our Equitable Growth Indicators, I want to share more broadly, in my view, why this work matters to us.

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Posted in Economic Insights | Permalink
April 8, 2024

Building the CDFI Sector in Puerto Rico

Tony Davis and Javier Silva

Puerto Rico’s community development financial institution (CDFI) sector has grown 15-fold over the last decade following a collaboration that brought together leaders from government, community development finance, and Puerto Rico’s credit unions, known as cooperativas.

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Posted in Community Development | Permalink
April 4, 2024

Regional Visit Shows Housing Affordability, Infrastructure as Top Issues for Businesses and Communities on Long Island

Andrea Grenadier and Joelle Scally

On February 28, New York Fed President John C. Williams traveled to Long Island to hear from local stakeholders about economic conditions in the region. Long Island is part of the Federal Reserve’s Second District, which, in addition to New York State, includes Northern New Jersey; Fairfield County, Connecticut; Puerto Rico; and the U.S. Virgin Islands. During the daylong visit, President Williams met with government officials, business owners, and nonprofit and community leaders. Here are the key themes that emerged in the day’s meetings and discussions.

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Posted in Regional Visits | Permalink
February 28, 2024

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

Judy DeHaven

In remarks delivered during a regional visit to Long Island on February 28, 2024, New York Fed President John C. Williams discussed the progress made in restoring price stability to the economy, as well as the work still needed to return inflation to 2 percent.

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Posted in Economic Outlook | Permalink
February 21, 2024

Examining the Recent Inflation Episode, the Fed’s Response, and Effects on Markets

Roberto Perli and Eric LeSueur

The rise in inflation following the COVID-19 pandemic was a global phenomenon, and it prompted many central banks to tighten monetary policy to bring inflation down. A recently published Centre for Economic Policy Research e-book, “Monetary Policy Responses to the Post-Pandemic Inflation,” provides a collection of viewpoints on the actions of central banks and their effects across various economies and markets.

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Posted in Monetary Policy Implementation | 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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