The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
Regional & Community Outreach connects the Bank to Main Street via structured dialogues and two-way conversations on small business, mortgages, and household credit.
Economic Education improves public knowledge about the Federal Reserve System, monetary policy implementation, and promoting financial stability through the Museum and programs for K-16 students and educators, and the community.
In the second quarter, the dollar appreciated 3.2 percent against the German mark and 2.2 percent against the Japanese yen. On a trade-weighted basis, the dollar advanced 1.6 percent against the other G-10 nations' currencies, the report noted.
Throughout most of the quarter, the report said, a perception of underlying economic strength in the U.S.and expectations of an eventual increase in interest rates by the Federal Reserve supported the dollar.
The report was presented by Peter R. Fisher, executive vice president of the New York Fed and the Federal Open Market Committee's manager for the system open market account, on behalf of the Treasury and the Federal Reserve System.