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.
The Federal Reserve Bank of New York has announced the appointment of Gary Dake and Nicole Russo to the New York Fed’s Second District Advisory Council, effective immediately.
The Federal Reserve Bank of New York’s Center for Microeconomic Data released its Quarterly Report on Household Debt and Credit, revealing a $109 billion (0.6%) increase in total household debt in Q2 2024, reaching $17.80 trillion. The report utilizes data from the New York Fed’s nationally representative Consumer Credit Panel.
The Federal Reserve Bank of New York released a report today titled “Digital Equity in the U.S. Northeast, Puerto Rico, and the U.S. Virgin Islands,” which examines broadband cost, speed, and availability in these regions from 2020 to 2023. The study highlights that rural, lower-income, and tribal communities are most impacted by inadequate broadband access, with tribal lands and rural areas experiencing the slowest download and upload speeds.
NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data released the June 2024 Survey of Consumer Expectations, indicating a decline in inflation expectations at short- and longer-term horizons but a slight increase at the medium-term horizon. One-year-ahead expectations for home prices and specific goods prices also showed a decline.
The Federal Reserve Bank of New York has announced the appointment of Frederic Veron as chief information officer and head of the Technology Group. In this capacity, he will also serve as a member of the Bank’s Executive Committee. Veron is set to join the New York Fed in June 2024.
The Federal Reserve Bank of New York released a report titled “Flood Risk and Basement Housing in New York City: The Impact of Extreme Weather on Vulnerable Housing Stock” on May 22, 2024. The report indicates that approximately 10% of low-income and immigrant New Yorkers reside in census tracts with basement apartments at high risk of flooding.
