In the spirit of the summer season, the New York Fed’s Open Market Trading Desk (the Desk) thought it would contribute something to your summer reading list.
August 5, 2024
Summer Reading on Monetary Policy Implementation
Posted in Monetary Policy Implementation | Permalink
August 1, 2024
Conference on Cyber Risk to Financial Stability Explores Evolving Threats and New Approaches to Resilience
Earlier this year, the New York Fed and Columbia University’s School of International and Public Affairs (SIPA) hosted the fifth annual State-of-the-Field Conference on Cyber Risk to Financial Stability. Since 2017, this collaboration between the New York Fed and SIPA has brought together practitioners from across cyber security and finance to focus on three central questions: What are we learning about cyber risk to financial stability? What are we doing? And what’s next?
Posted in Technology | Permalink
July 22, 2024
How Nonprofits Drive Economic Activity in New York’s North Country
On our recent regional visit to New York’s North Country, we heard from stakeholders that delivering essential social services can be a major challenge due to the area’s vast geography and low population density, and that the nonprofit sector plays a critical role in addressing this issue. Building on our earlier report, this article examines how nonprofits support low- and moderate-income communities in both small towns and larger municipalities across the North Country.
July 5, 2024
Key Takeaways from President Williams’s Speech on Managing Policy Amid Uncertainty
New York Fed President John C. Williams delivered the 4th Suresh Tendulkar Memorial Lecture at the Reserve Bank of India in Mumbai on July 5, 2024. In his remarks, he discussed the key principles of inflation targeting strategies that have proven foundational in helping the Fed and other central banks manage extreme uncertainty. These principles include the need for central banks to own the responsibility for price stability and have independence to act to achieve it; transparency and clear communication of goals, including an explicit numerical inflation target; and well-anchored inflation expectations.
Posted in Economic Outlook | Permalink
June 26, 2024
Unique Geography, Common Challenges: Regional Visit Reflects Varied Aspects of North Country Economy
New York Fed President John C. Williams traveled to the North Country region of upstate New York last month to hear from stakeholders about local economic conditions. He met with government officials, business owners, veterans and military families, and nonprofit and community leaders during this two-day Second District regional visit.
Posted in Regional Visits | Permalink
June 24, 2024
Why Inflation Expectations Matter: Celebrating 10 Years of Our Survey of Consumer Expectations
In this recurring column, Kartik Athreya, the New York Fed’s Director of Research, draws connections between broader economic policy issues and our everyday lives.
Expectations shape behavior. That’s why the Survey of Consumer Expectations, now in its 10th year, is such an important tool for central bankers. The monthly survey, produced by our Center for Microeconomic Data, has three main components: inflation expectations, labor market expectations, and household finance expectations. While all these expectations are important, I’ll focus here on inflation expectations, and how they shape people’s actions.
Posted in Economic Insights | Permalink
June 17, 2024
2024 Governance and Culture Reform Conference: The Elements of Accountability
The New York Fed’s conference on culture in the financial services industry, held in May, marked the 10th anniversary of the Bank’s culture initiative.
Posted in Banking Culture | Permalink
May 30, 2024
Key Takeaways from President Williams’s Speech on the Economic Outlook and Monetary Policy
In remarks delivered at the Economic Club of New York, New York Fed President John C. Williams discussed how the Federal Reserve is working to achieve both maximum employment and price stability, the progress of getting supply and demand in better balance, and bringing inflation back down to the Federal Open Market Committee’s (FOMC’s) 2 percent longer-run goal.
Posted in Economic Outlook | Permalink
May 29, 2024
When Are Demand and Supply Shocks ‘Drivers’ of Inflation?
In this recurring column, Kartik Athreya, the New York Fed’s Director of Research, draws connections between broader economic policy issues and our everyday lives.
A type of statement one frequently hears, and that I myself sometimes make, is that “inflation is being driven by item X being stuck in a supply-chain mess,” or “item Y being suddenly in great demand,” and so on.
Posted in Economic Insights | Permalink
May 28, 2024
Charting a Path Forward for Puerto Rico’s Economy
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.
Posted in Community Development | Permalink
