To register for this virtual event, visit nyfed.org/apr7event.

On April 7, 2021, the Federal Reserve Bank of New York, in association with The International Society for Urban Health, is sponsoring an event on the social determinants of health, with a focus on health equity issues.

The COVID-19 crisis has revealed racial and economic disparities in baseline health, access to quality healthcare, and health outcomes in the U.S. and internationally. For example, Johns Hopkins University of Medicine reports that while Black Americans represent only about 13% of the population in the states reporting racial/ethnic information of people who have died of COVID-19, they account for about 34% of total COVID-19 deaths in those states.

During this event, a panel moderated by Dr. Jo Ivey Boufford

On Monday, March 22, the Federal Reserve Bank of New York, in partnership with the Lyndon B. Johnson School of Public Affairs of the University of Texas at Austin, will host a virtual event titled The Impact of the COVID-19 Shock on Women’s Labor Market Outcomes and Equitable Policy Solutions.

Register at nyfed.org/mar22event.

This event, held as part of Women’s History Month, will bring together thought leaders, researchers, community development practitioners, and policy influencers to discuss the COVID-19 "shecession," with a focus on women of color, as well the effects women’s job losses have had on families and children.

Pamela Dyson, Executive Vice President of the Technology Group at the New York Fed, will deliver opening remarks. Jaison Abel, Assistant Vice President and Head

The topics of Diversity, Equity & Inclusion are central to reforming financial sector culture as well as having wide-ranging consequences on society.

On March 1, 2021, the New York Fed hosted a virtual event on the topic, which is available to watch here in full.

The event was part of the New York Fed’s initiative to spur reform of culture and conduct in the financial services industry and encourage the industry to raise standards. Panelists explored questions related to how and why norms and biases change, the role of leaders and institutions in driving that change, and why motivations matter.

To learn more about our work on this topic, visit nyfed.org/governance-and-culture.

On Tuesday, March 30, the Federal Reserve Bank of New York and the AARP (American Association of Retired Persons) will host a virtual event titled The State of the 50+ Entrepreneur. This event will bring together thought leaders, researchers, and policymakers, to discuss the impact of the COVID-19 pandemic on older business owners and their firms, and what might be done to help their recovery.

During this webinar, Claire Kramer Mills, Ph.D., Assistant Vice President and Director, Community Development Analysis, of the New York Fed will present and discuss a new report that examines the state of older business owners and their firms, as well as challenges they have faced historically and amidst the coronavirus pandemic.

In addition, New York Fed President and CEO John Williams will

The topics of Diversity, Equity & Inclusion are central to reforming financial sector culture as well as having wide-ranging consequences on society.

The New York Fed is hosting a virtual event on the topic, open to the public, on Monday March 1, 9:00 am. To register, visit nyfed.org/mar1event.

The event is part of the New York Fed’s initiative to spur reform of culture and conduct in the financial services industry and encourage the industry to raise standards. Panelists will explore questions related to how and why norms and biases change, the role of leaders and institutions in driving that change, and why motivations matter.

The New York Fed conducts research to better understand what contributes to economic inequality in its many forms – in the region, and across the Nation.

Often, economic research focuses on understanding the average effects of a policy or program. However, while averages provide useful reference points, they don’t capture the full story.

To better understand what contributes to economic inequality in the region and across the Nation, it is vital to understand how the effects of policies and economic trends differ across geographic, demographic, and socioeconomic boundaries.

The Economic Inequality series from the New York Fed highlights the differences in economic outcomes and policy impacts by race, gender, age, geography, income, education, and other factors.

Timely content is

The New York Fed’s economists turn focus to the Labor Market in COVID-19 as part of the recurring research series "Economic Inequality" on Liberty Street Economics → nyfed.org/inequality-series.

This virtual event took place on February 9, 2021, and is shown here in full.

Economic analysis often focuses on understanding the average effects of a policy or program. Although averages are undoubtedly useful reference points, they do not tell the whole story. It is vital to understand how the effects of policies and economic trends vary across geographic, demographic, and socioeconomic boundaries. Designed with this objective in mind, the economic inequality series is a recurring Liberty Street Economics blog series that highlights differences in economic outcomes and policy impacts by race,

Economics is not an abstract science. It’s a pathway for students to better understand the world around them, and a potential career to help shape a more equitable economy and society for all.

The Economist Spotlight Series, from the New York Fed, offers engaging activities that highlight real-life barrier breakers in the field of economics. Designed for middle school and high school classrooms, the activities take students through an economist’s way of thinking – asking questions, researching and analyzing data, and drawing conclusions that can make a real difference in people’s lives.

The first installment in the series focuses on Dr. Sadie T. M. Alexander, who in 1921 became the first Black American to earn a PhD in economics. She once used small questions like, “How much does your

The New York Fed’s Educational Comic Book Series → nyfed.org/comicbooks

Problem Solving! Economics! Space Travel?

Join Flora, Glix, and an intrepid cast of characters as they travel the universe, meet new friends, and work together to learn about economic and financial literacy.

Available to students, teachers, community organizations, and households at no charge, the New York Fed’s Educational Comic Book Series brings readers on an out-of-this-world journey to teach about basic economic principles and the Federal Reserve’s role in the financial system.

For classroom or independent learning, the series is created for students of all ages, and stimulates curiosity and raises awareness of careers in economics and finance. In addition, lesson plans created for each comic book meet

January 2021 Business Leaders Survey → nyfed.org/BLS.

Activity in the region’s service sector declined at an accelerated pace, according to firms responding to the Federal Reserve Bank of New York’s January 2021 Business Leaders Survey. The survey’s headline business activity index fell five points to -31.8. The business climate index fell three points -63.3, indicating that the vast majority of firms continued to view the business climate as worse than normal. Employment levels declined at a faster clip than last month, though wage increases picked up. Both input prices and selling prices increased at a faster pace than in December. Capital spending fell for a tenth consecutive month. Looking ahead, firms expect business conditions to improve over the next six months.

Business Activity Little Changed in NYS → nyfed.org/esms

Business activity was little changed in New York State, according to firms responding to the January 2021 Empire State Manufacturing Survey. The headline general business conditions index held steady at 3.5. New orders and shipments edged higher. Unfilled orders continued to move lower, and delivery times continued to lengthen somewhat. Employment levels increased modestly and the average workweek lengthened. Input price increases and selling price increases both picked up noticeably. Looking ahead, firms remained optimistic that conditions would improve over the next six months.

The New York Fed designs economic education programs in partnership with educators to engage students and stimulate their interest in economics as a subject for study and the basis for a career.

For more information, visit nyfed.org/econ-ed

December 2020 Survey of Consumer Expectations → nyfed.org/sce

The December 2020 Survey of Consumer Expectations shows the median home price change expectation increasing sharply to 3.6 percent in December from 3.0 percent in November. The measure has been on an upward trend since reaching a series low of 0 percent in April and is now at its highest level since July 2018. The median inflation expectation rose at the three-year horizon, while remaining unchanged at the one-year horizon. Uncertainty about future inflation increased slightly, remaining elevated in comparison with the pre-COVID-19 period.

Activity in the region’s service sector declined at its fastest pace since June, according to firms responding to the Federal Reserve Bank of New York’s December 2020 Business Leaders Survey → nyfed.org/BLS.

The survey’s headline business activity index fell eleven points to -26.9. The business climate index was little changed at -60.3, indicating that the vast majority of firms continued to view the business climate as worse than normal. Employment levels declined, and wages increased at a slower pace than last month. Input prices increased at about the same pace as in November, while selling prices held steady. Capital spending fell for a ninth consecutive month. Looking ahead, firms expect little improvement in business conditions over the next six months.

Reducing Climate Risk for Low Income Communities

This virtual event took place on November 19, 2020, and is available to watch here in full.

The shocks and stresses of climate change are creating huge risks for both the financial sector and vulnerable populations. Already in 2020, with a global temperature rise of 1.2°C, we have seen the impact of more severe wildfires and hurricanes. We know these impacts are not distributed evenly, with low-income and other vulnerable communities affected most. There is a clear opportunity for climate finance to address risk by building stronger economies in low-income areas that makes places more resilient to climate change.

Co-hosted by Climate Safe Lending Network, this event explored the intersection of climate change approaches in the financial

Business activity edged slightly higher in New York State, according to firms responding to the December 2020 Empire State Manufacturing Survey → nyfed.org/esms.

The headline general business conditions index was little changed at 4.9. New orders increased marginally, and shipments were modestly higher. Inventories continued to move lower, and delivery times edged up. Employment posted its strongest gain in months, and the average workweek lengthened somewhat. Input prices increased at the fastest pace in two years, while selling prices increased at about the same pace as last month. Looking ahead, firms remained optimistic that conditions would improve over the next six months.

Household Spending Growth Expectations Strengthen; Labor Market Signals Are Mixed → nyfed.org/sce

The November Survey of Consumer Expectations shows that consumers’ year-ahead spending growth expectations rose to 3.7 percent—the highest level in more than four years—despite flat income and earnings growth expectations. Labor market signals were mixed: Although the mean perceived probability of losing one’s job in the next twelve months decreased to 14.6 percent in November from 15.5 percent in October, expectations that the unemployment rate will be higher one year from now rose to 40.1 percent, the first increase since July.

On Friday, November 20, 2020, the Federal Reserve Bank of New York, in partnership with Yerba Buena Center for the Arts, hosted a discussion focused on artists’ role in building an equitable economy and their influence on community health and wellbeing.

"Mobilizing Capital: Artists’ Impact on Community Health and Wellbeing" explored the intersection of arts and culture, community investments, and healthy communities. Creative and arts-based strategies are central to community development and can support investments that strive for equitable and durable long-term health outcomes.

Speakers included leaders striving to invest their capital in an upstream approach to health care through arts, artists as catalysts of change in communities, and academia providing current research on the

On Friday, November 20, 2020, the Federal Reserve Bank of New York, in partnership with Yerba Buena Center for the Arts, hosted a discussion focused on artists’ role in building an equitable economy and their influence on community health and wellbeing.

"Mobilizing Capital: Artists’ Impact on Community Health and Wellbeing" explored the intersection of arts and culture, community investments, and healthy communities. Creative and arts-based strategies are central to community development and can support investments that strive for equitable and durable long-term health outcomes.

Speakers included leaders striving to invest their capital in an upstream approach to health care through arts, artists as catalysts of change in communities, and academia providing current research on the

On Friday, November 20, 2020, the Federal Reserve Bank of New York, in partnership with Yerba Buena Center for the Arts, hosted a discussion focused on artists’ role in building an equitable economy and their influence on community health and wellbeing.

"Mobilizing Capital: Artists’ Impact on Community Health and Wellbeing" explored the intersection of arts and culture, community investments, and healthy communities. Creative and arts-based strategies are central to community development and can support investments that strive for equitable and durable long-term health outcomes.

Speakers included leaders striving to invest their capital in an upstream approach to health care through arts, artists as catalysts of change in communities, and academia providing current research on the

On Friday, November 20, 2020, the Federal Reserve Bank of New York, in partnership with Yerba Buena Center for the Arts, hosted a discussion focused on artists’ role in building an equitable economy and their influence on community health and wellbeing.

"Mobilizing Capital: Artists’ Impact on Community Health and Wellbeing" explored the intersection of arts and culture, community investments, and healthy communities. Creative and arts-based strategies are central to community development and can support investments that strive for equitable and durable long-term health outcomes.

Speakers included leaders striving to invest their capital in an upstream approach to health care through arts, artists as catalysts of change in communities, and academia providing current research on the

On Friday, November 20, 2020, the Federal Reserve Bank of New York, in partnership with Yerba Buena Center for the Arts, hosted a discussion focused on artists’ role in building an equitable economy and their influence on community health and wellbeing.

"Mobilizing Capital: Artists’ Impact on Community Health and Wellbeing" explored the intersection of arts and culture, community investments, and healthy communities. Creative and arts-based strategies are central to community development and can support investments that strive for equitable and durable long-term health outcomes.

Speakers included leaders striving to invest their capital in an upstream approach to health care through arts, artists as catalysts of change in communities, and academia providing current research on the

Web Series on Culture: Trust & Decision-Making
Full Event, 12/2/20

For six years, the New York Fed has drawn attention to culture and conduct in the financial services industry and encouraged the industry to work together to improve standards. To continue this initiative in a virtual environment, the Bank is hosting a series of web events highlighting current work and scholarship in this area. A video of the first event, which presented some of the New York Fed’s work with the industry on culture, is available here.

The second event in the series focused on trust and decision-making. Panelists offered diverse perspectives drawn from neuroscience, behavioral science, financial services, technology, and space flight to help us better understand how trust and habits of decision-making

Continuing the Conversation on Culture: Trust & Decision-Making
Supplementary Virtual Event Content, 12/2/20

For six years, the New York Fed has drawn attention to culture and conduct in the financial services industry and encouraged the industry to work together to improve standards. To continue this initiative in a virtual environment, the Bank is hosting a series of web events highlighting current work and scholarship in this area. A video of the first event, which presented some of the New York Fed’s work with the industry on culture, is available here.

The second event in the series focused on trust and decision-making. Panelists offered diverse perspectives drawn from neuroscience, behavioral science, financial services, technology, and space flight to help us better understand

In the face of mounting challenges, the citizens of Puerto Rico have taken the future into their own hands. Community leaders are tackling foundational issues on the Island, such as affordable housing, capacity building, workforce development, recovery & resilience, renewable energy, and more. For this episode, we share their perspectives, examine how Puerto Rico arrived at this crucial moment, and reveal how CDFIs and other impact investors can get involved.

Bank Notes takes listeners deeper into insights and analysis from the New York Fed, told series by series. Listen here, or download episodes from iTunes.

"Shelter from the Storm: Psychological Safety and Workplace Culture during the Coronavirus Pandemic"

Pre-recorded remarks by James Hennessy, Senior Vice President, Supervision. Delivered November 26, 2020, as the Keynote Address for the 6th Annual Culture and Conduct Forum for the Financial Services Industry – ‘Culture, Conduct and COVID-19’

For more information, visit:
nyfed.org/eif
nyfed.org/governance-and-culture

Forum on Ongoing Innovation in Reference Rates for Commercial Lending (Transition from LIBOR: Credit Sensitivity Group Additional Working Session)

This virtual event took place on November 18, 2020, and is available to watch here in full.

The first of two additional working sessions, via webinar, brought together a diverse set of banks and borrowers involved in prior Credit Sensitivity Group workshops, reference rate administrators, and other relevant parties to highlight areas of innovation underway in reference rates for commercial lending, particularly those with a credit-sensitive element. This forum was not intended to facilitate or result in a recommendation of any particular products, services, or approaches, and does not constitute an endorsement by the official sector

Economic Inequality Policy Series: The COVID-19 Eviction Cliff–Who’s Affected and How to Mitigate Short- and Long-term Crises?

This virtual event took place on October 27, 2020, and is available to watch here in full.

The Federal Reserve Bank of New York, in collaboration with the NYU Furman Center, will host its fourth event in a series of discussions on economic inequality on October 27, 2020. The event, "The COVID-19 Eviction Cliff," will highlight insights on housing and evictions and include conversations with researchers, government, think tanks and organizational leaders.

The pandemic and its associated job losses have limited renters’ ability to pay monthly expenses and landlords’ ability to keep current on mortgages. Both sources of uncertainty threaten neighborhood safety and

Why Economics and Equity Matter More Than Ever

Economic education from the New York Fed provides accessible content and programs for teachers, students, and the public. Designed to engage and empower a broad audience, these resources focus in part on addressing economic and racial inequities.

The everyday experiences and livelihoods of Americans differ greatly across geographic, demographic, and socioeconomic lines — and economic inequality can prevent some communities and families from affording healthcare, buying a home, starting a business, or pursuing higher education.

The New York Fed’s educational comic books, lesson plans, teacher trainings, student competitions, and more seek to engage students from diverse backgrounds, and demystify economics as a field of study and

Household Debt Back on the Rise after Second Quarter Dip → nyfed.org/HHDC.

According to the latest Quarterly Report on Household Debt and Credit, total household debt increased by $87 billion (0.6 percent) in the third quarter of 2020, more than offsetting the decline seen in the previous quarter. The data likely reflect improvements in economic activity and the labor market, as well as the positive impacts of relief measures provided through CARES Act provisions or offered voluntarily by lenders. Mortgage originations, including refinances, continued on their upward trend as homeowners continue to take advantage of the low interest rate environment.