The U.S. economy enjoyed a remarkable run in the 1990s. As it moved into the new century, however, the economy underwent various fits and starts before entering its current expansion phase. In this quarter’s message, President Anthony Santomero shares his views on the U.S. economy and outlines...

After 30 years of university teaching and almost five years as a Reserve Bank president, Anthony M. Santomero knows the importance of education to a well-functioning economy. In recent years, he has seen several broad, long-term trends emerge-trends that will undoubtedly shape our environment...

President Anthony Santomero highlights the differences between U.S. and European payments infrastructure; discusses how the roots and evolution of the U.S. payments system differs from Europe’s; and outlines the likely path of the U.S. payment system and the Fed’s role in it. In the end, he...

What happens when an academic researcher becomes a policymaker? Recently, President Anthony Santomero shared some thoughts on this topic with members for the Downtown Economists Club in New York City. In particular, he talked about several conundrums he's encountered since moving from the...

Should monetary policymakers in the U.S. adopt explicit inflation targeting? After all, the Fed has steadily reduced inflation over the past 25 years without resorting to an explicit inflation target. But having achieved price stability, we must now deal with the matter of maintaining it. In...

President Anthony M. Santomero reflects on the economic challenges and changes during his tenure as president over the past six years and summarizes some of the Bank’s accomplishments.

President Anthony Santomero points out that conducting a successful monetary policy presents real-world challenges, such as evaluating where the economy is, where it is going, and where it should be going. But how do monetary policymakers make decisions about the economy in a world with...