Williams says tariffs have been overwhelmingly borne domestically by U.S. firms and consumers per New York Fed analysis.
“First, the tariffs have overwhelmingly been borne domestically—a New York Fed analysis estimates that most of the burden has fallen on U.S. firms and consumers.”
Athreya delivered the presentation, not Williams; this is attribution context only.
“In-person presentation for the Rockland Business Association’s General Membership Luncheon, delivered by Kartik Athreya, Director of Research and Head of the Research and Statistics Group, Federal Reserve Bank of New York.”
Williams announces the Desk will soon implement daily morning SRF operations with morning settlement.
“In fact, as I mentioned nearly two weeks ago, in the not-too-distant future the Desk will start implementing daily morning SRF operations that will also be settled in the morning.”
Williams says the Desk is conducting reserve management purchases at $40 billion monthly.
“As you know, so far, the Desk has been conducting reserve management purchases at a monthly pace of $40 billion.”
Williams argues central banks should support economic historians because they can efficiently provide complementary research inputs.
“This observation to me provides a compelling reason for why a central bank Research Group should support economic historians.”
Williams cites New York Fed research showing higher-income households and homeowners had substantially stronger consumption growth than lower-income renters.
“Research by New York Fed economists found that over recent years, higher-income households and homeowners have experienced substantially stronger consumption growth than lower-income households and renters.”