Marc P. Giannoni and Hannah Herman The Federal Reserve Reform Act of 1977 established the monetary policy objectives of maximum employment, stable prices, and moderate long-term interest rates. The goal of “stable prices” has long been understood to mean a low positive inflation rate. On January 25, 2012, the Federal Open Market Committee (FOMC) explicitly […]
When central bankers speak, traders, journalists, and politicians listen with bated breath.
At the N.Y. Fed: Managing the Risk of Catastrophes—Protecting Critical Infrastructure in Urban Areas
James Orr, Rae Rosen, Max Livingston, Kaivan K. Sattar, and Eric Stern Correction: An earlier version of this posting misspelled Stephane Hallegatte’s surname. We apologize for the error.
Black Monday, Black Friday, Green Monday, Black Thursday, Silver Thursday, Red Thursday, Black Tuesday – How to keep track?
Higher education is pivotal in our society—yet, its landscape is changing. Over the past decade, the private, for-profit sector of higher education has seen unprecedented growth, and its market share is at an all-time high.
The financial crisis of 2007-09 highlighted the central role that financial intermediaries play in the propagation and amplification of shocks.
To what extent are Japanese equities driven by changes in the value of the yen?
The results of this morning’s November Empire State Manufacturing Survey point to slightly weaker conditions in New York’s manufacturing sector.
The U.S. Virgin Islands are a small and unique component of the Second Federal Reserve District.
Today, the New York Fed released the 2013:Q3 Quarterly Report on Household Debt and Credit.