The New York Fed Staff Nowcast for 2024:Q3 is 3.1%, with the 50% probability interval at [2.0, 4.1] and the 68% interval at [1.4, 4.6]. The Staff Nowcast is 2.8% for 2024:Q4. Explore the data: https://nyfed.org/3LbPEur
Federal Reserve Bank of New York
Financial Services
New York, NY 140,305 followers
Serving the Second District and the Nation
About us
Be aware of potentially fake online job postings that claim to be from the Federal Reserve. Always verify and apply to jobs on the Federal Reserve System Careers webpage. The Federal Reserve Bank of New York works within the Federal Reserve System and with other public and private sector institutions to foster the safety, soundness and vitality of our economic and financial systems. Some of its most critical functions include the implementation of monetary policy, supervision and regulation of depository institutions, international operations and financial services. The New York Fed oversees the Second Federal Reserve District, which includes New York State, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico and the U.S. Virgin Islands. Though we serve the public interest in a geographically small area, the New York Fed is the largest Reserve Bank in terms of assets and volume of activity. We accomplish this with talented and innovative people working within a collaborative and inclusive culture. We welcome and invite engagement and discussion on our Linkedin page. In order to maintain a productive exchange of thoughts, opinions, and ideas we prohibit any comments that contain: • Defamation of an individual, group or organization • Spam: posting identical or similar posts repeatedly • Obscenity or vulgarity • Misleading or fraudulent statements and false information • A violation of another’s intellectual property rights • commercial in nature The views, opinions and experiences expressed in user-submitted comments are solely those of the author and do not necessarily reflect those of the Federal Reserve Bank of New York. We reserve the right to remove comments, at our discretion and without notice.
- Website
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http://www.newyorkfed.org
External link for Federal Reserve Bank of New York
- Industry
- Financial Services
- Company size
- 1,001-5,000 employees
- Headquarters
- New York, NY
- Type
- Nonprofit
- Founded
- 1914
- Specialties
- Monetary Policy, Supervision and Regulation, Financial Services, International Operations, Payment Systems, Economic Research and Statistics, Risk Management, and Information Security
Locations
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Primary
33 Liberty Street
New York, NY 10045, US
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100 Orchard Street
East Rutherford, NJ, US
Employees at Federal Reserve Bank of New York
Updates
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President John C. Williams delivered opening remarks at the Future of New York City: Focus on Jobs conference at the New York Fed https://nyfed.org/3ZQ5Rxi
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Attention sophomores, juniors, and first-year graduate students—applications for our 2025 summer internships are open! Opportunities are available across a wide range of teams, and all majors are welcome. Visit our website to check out the full list of opportunities and apply. https://nyfed.org/3iMb2VO
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Our Community Development's team latest report finds that nearly 1 million houses and multifamily buildings in the tristate area—which house more than 4 million people—are at high risk of flooding. Of that total, more than 1.5 million people live in low- and moderate-income census tracts. These buildings rank among the top 25% of riskiest properties nationally, the same flood risk category as some homes in coastal Florida, Texas, and Louisiana. Learn more: https://nyfed.org/3ZItdoJ
Flood Risk and the Tristate Housing Market
newyorkfed.org
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With the rise of generative AI (genAI), many worry about its potential displacement effects in the labor market and its implications for income inequality. In today's post, using supplemental questions to the Survey of Consumer Expectations, the authors asked a representative sample of U.S. residents about their experience with genAI tools. They find that relatively few people have used genAI, but those who have used it have a relatively bleak outlook on its impacts on jobs and future inequality. https://nyfed.org/3Bp3c3w
Exposure to Generative AI and Expectations About Inequality - Liberty Street Economics
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“The theme ‘Pioneers of Change: Shaping the Future Together’ really speaks to me because it’s about how we can make a difference when we come together,” reflects Officer Fernandez, one of our Law Enforcement Officers, on this year’s #HispanicHeritageMonth theme. “In my role, I see everyday how small actions add up to something bigger at the New York Fed. For me, it means we’re not just clocking in and out; we’re here to make a real impact, especially in a place as influential as the Federal Reserve. It’s motivating being part of a team that’s all about building a better future collectively, and I’m proud to be part of that movement.” Interested in joining Officer Fernandez and becoming a Law Enforcement Officer at the New York Fed? Click here: https://bit.ly/4gz74iF #HispanicHeritageMonth
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At the New York Fed, we all work together to strengthen the U.S. economy. Our Law Enforcement Officers play an important role in this work by safeguarding our people, property, and premises. Now’s your chance to be part of this team. If you’re interested in joining us as a Law Enforcement Officer, submit your application by the October 7 deadline: https://bit.ly/4gz74iF
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The Joint Member Agencies convened the tenth annual conference on Thursday, September 26, 2024, at the New York Fed. The keynote addresses and expert panels at this year's conference covered a range of topics related to the Treasury market, including the expansion of central clearing, asset manager use of Treasury futures and the current and future structure of the Treasury market. Watch the full recording: https://nyfed.org/3BdQzsh
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In today's post, the authors provide a quantitative assessment of systemic risk stemming from nonbank financial sectors. Even though these sectors have heterogeneous business models, ranging from insurance to trading and asset management, they find that the systemic risk of these sectors has common variation, and this commonality has increased over time. Moreover, nonbank sectors tend to become more systemic when banking sector systemic risk increases. https://nyfed.org/3NegxhH
Are Nonbank Financial Institutions Systemic? - Liberty Street Economics
https://libertystreeteconomics.newyorkfed.org
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Multivariate Core Trend (MCT) inflation increased to 2.6 percent in August from 2.4 percent in July (revised down from 2.5 percent). The 68 percent probability band is (2.2, 3.0). Explore the data: https://nyfed.org/3NY8FCh