The Federal Reserve Bank of New York has announced the resignation of Michelle Neal from her position as Head of the Markets Group and a member of the Bank’s Executive Committee.
René F. Jones, chairman and CEO of M&T Bank, has been reelected as a Class A Director on the Board of Directors at the Federal Reserve Bank of New York.
The Federal Reserve Bank of New York has released its Quarterly Report on Household Debt and Credit, revealing a modest increase in household debt for the third quarter of 2024.
The Federal Reserve Bank of New York has introduced a new research product, the Reserve Demand Elasticity (RDE), which will be published monthly. This tool measures the federal funds rate's responsiveness to changes in reserve supply.
The Federal Reserve Bank of New York's Center for Microeconomic Data has released its September 2024 Survey of Consumer Expectations. The survey indicates that while short-term inflation expectations remain stable, there is a slight increase in medium- and long-term inflation expectations. Additionally, the likelihood of voluntary job separation and finding employment after job loss has risen.
The Federal Reserve Bank of New York has announced the appointment of Michelle de la Uz to its Community Advisory Group. Her role takes effect immediately.
The Federal Reserve Bank of New York has released a report titled “Flood Risk and the Tristate Housing Market,” revealing that nearly one million houses and multifamily buildings in New York, New Jersey, and Connecticut are at high risk of flooding. This equates to one in ten properties in the tristate area, placing them among the top 25% of riskiest properties nationally, comparable to homes in coastal Florida, Texas, and Louisiana.
The Federal Reserve Bank of New York has introduced the Reference Rate Use Committee (RRUC), a new initiative aimed at supporting the integrity, efficiency, and resiliency in the use of interest rate benchmarks across financial markets. This includes benchmarks produced and administered by the New York Fed.
The Federal Reserve Bank of New York’s Center for Microeconomic Data has released the August 2024 Survey of Consumer Expectations. The survey reveals that inflation expectations remained unchanged at short- and longer-term horizons, with a slight rebound at the medium-term horizon after a significant drop last month. Labor market expectations showed mixed but generally stable trends. Additionally, households expressed increased optimism regarding credit availability in the coming year, while delinquency expectations rose to their highest level since April 2020.
The Federal Reserve Bank of New York’s Center for Microeconomic Data has released the July 2024 Survey of Consumer Expectations, revealing stable short- and long-term inflation expectations but a significant decline in medium-term expectations to a new series low. Labor market expectations were mixed, with respondents anticipating lower earnings growth and reduced likelihood of finding a new job within three months if laid off. Delinquency expectations continued their upward trend, reaching the highest level since April 2020.
The Federal Reserve and U.S. Treasury did not intervene in foreign exchange markets during the April – June 2024 quarter, according to a quarterly report released by the Federal Reserve Bank of New York.
The Federal Reserve Bank of New York has announced the appointment of Anat Gourji as chief financial officer and head of the Corporate Group. In this role, she will also join the Bank’s Executive Committee. Her appointment is set to take effect in October 2024.
