Federal Reserve Policy

The president of the Federal Reserve Bank of New York is traditionally part of a leadership triumvirate at the Federal Reserve alongside the Chair and the Vice Chair of the Board of Governors of the Federal Reserve System.

The Federal Reserve Bank of New York executes monetary policy operations for the Federal Reserve System.

The leadership of the Federal Reserve System is traditionally described as a trio composed of the Fed Chair, the Vice Chair of the Board of Governors, and the president of the Federal Reserve Bank of New York.

Labor market indicators such as payroll growth and the unemployment rate can send mixed signals for monetary policy: robust payroll growth suggests economic strength, while a rising unemployment rate can provide central banks a reason to consider cutting policy interest rates.

Cuts to a central bank's benchmark interest rate tend to boost economic activity and asset prices but can increase inflationary pressures; the U.S. Federal Reserve targets a 2% inflation rate.

The Federal Open Market Committee (FOMC) is the Federal Reserve panel responsible for setting U.S. monetary policy, including decisions on the target federal funds rate.