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 fourth quarter, the dollar appreciated 3.9 percent against the Japanese yen and 0.9 percent against the German mark. On a trade-weighted basis, the dollar appreciated 0.2 percent against the other G-10 nations' currencies, the report noted. This marks the fifth consecutive period in which there was no U.S. intervention in the markets.
The report to Congress was presented by Peter R. Fisher, executive vice president of the New York Fed and the FOMC's manager for the system open market account, on behalf of the Treasury and the Federal Reserve System.