President Dudley on the Regional Road
President William C. Dudley visits constituents in the New York Fed region to strengthen connections and share information. The trips are a valuable source of grassroots intelligence and insights that can help inform the policy process.

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Selected Speeches from:

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2013 -
2012 -
2011 -
2010 -

New York

New Jersey

Connecticut

Puerto Rico

Buffalo

Rochester

Ithaca

Syracuse

Albany

New Paltz

Fishkill

West Point

Newark

Lyndhurst

Newark

Florham Park

Brooklyn

Staten Island

Bronx

Queens

Melville, Long Island

San Juan

Stamford

Buffalo

Erie County

October 27, 2010
How Goes the Recovery? Challenges for the Nation, the Region and the Fed
University at Buffalo, New York



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Buffalo

Erie County

April 13, 2012
The National and Regional Economic Outlook
Buffalo-Niagara Partnership, Buffalo, New York

Across Upstate New York, the cycle of recession and recovery has been much less pronounced than in the nation, which means that the region has been more stable in recent years than many other places around the country. This has been particularly true in Buffalo, which experienced an employment decline of about 3½ percent during the downturn—a significant loss, to be sure—but well below the over 6 percent decline that occurred nationally.

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Rochester

Monroe County

October 26, 2010
How Goes the Recovery? Challenges for the Nation, the Region and the Fed
University of Rochester, New York



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Albany

Albany County

November 18, 2011
The National and Regional Economic Outlook
University at Albany



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Ithaca

Tompkins County

October 25, 2010
How Goes the Recovery? Challenges for the Nation, the Region and the Fed
Cornell University, Ithaca, New York



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Fishkill

Dutchess County

May 20, 2011
The Road to Recovery: Hudson Valley
Dutchess County Regional Chamber of Commerce, Fishkill


In the near-term, the regional economy, and indeed the economy of the entire state, faces a number of challenges. Among them is the need to address the large state budget gap. New York is not alone in having seen its tax revenue decline as the economy weakened and, thus, facing hard choices. As I mentioned, state and local government employment has already weakened in many areas. Going forward, further contraction in this sector continues to pose some risks to the recovery.

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West Point

Orange County

November 17, 2011
Securing the Recovery and Building for the Future
United States Military Academy at West Point


If we are to achieve the best possible recovery and build for the future, we will also need ongoing efforts across four broad fronts: financial stability, housing policy, fiscal policy and structural adjustment to foster more sustainable U.S. growth and a more balanced global economy.

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New Paltz

Ulster County

May 19, 2011
The Road to Recovery: Hudson Valley
State University of New York at New Paltz



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Newark

Essex County

August 18, 2011
The National and Regional Economic Outlook
New Jersey Performing Arts Center, Newark



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Lyndhurst

Bergen County

August 19, 2011
The National and Regional Economic Outlook
Meadowlands Chamber of Commerce, Lyndhurst, New Jersey



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Queens

New York City

March 11, 2011
Economic Overview: Queens and the Region
Queens Chamber of Commerce and Queens Economic Development Corporation, Flushing



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Staten Island

New York City

April 16, 2013
The Outlook for the National and Local Economy
Staten Island Chamber of Commerce


Here on Staten Island job creation has not been quite as robust over the past couple years. It should be recognized, however, that Staten Island's economy was actually more resilient than Manhattans during the recession, experiencing only minimal job losses. Staten Island's key industries—local-market sectors like health, education and retail trade—tend to be less susceptible to sharp economic downturns than more cyclical sectors, like manufacturing, construction and finance.

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Melville

Long Island

March 19, 2011
Remarks at the Long Island Association, Melville, New York



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Brooklyn

New York City

June 10, 2011
The Road to Recovery: Brooklyn
Brooklyn Chamber of Commerce Brooklyn Borough Hall



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Brooklyn

New York City

March 7, 2014
The National and Regional Economy
Brooklyn College


Now let’s focus on Brooklyn. The borough’s economy has been particularly strong in recent years. Compared with the other boroughs, Brooklyn has seen generally stronger job growth, a stronger housing market, and stronger trends in wage and salary earnings. This strength is exemplified by the transformation of industrial neighborhoods—such as DUMBO, Red Hook, Greenpoint, East Williamsburg, Gowanus and Bushwick—into increasingly diversified residential and commercial neighborhoods; and the recent development of the Atlantic Yards and Brooklyn Navy Yard. This changing landscape has helped spur economic activity which has created many new jobs in the borough.

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Syracuse

New York City

April 12, 2012
The National and Regional Economic Outlook
Center for Economic Development, Syracuse, New York


Like much of Upstate New York, Syracuse's housing market has been relatively stable and did not experience a boom-bust cycle like much of the rest of the nation. In fact, since the peak of the national housing market in early 2006, home prices in Syracuse have increased by close to 10 percent, compared with a decline of more than 30 percent nationally. As a result, the drop off in economic activity that is connected, directly and indirectly, to the performance of the housing sector has not been as severe here as it was in many other places.

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Florham Park

Morris County

September 18, 2012
Regional and National Economic Conditions
Morris County Chamber of Commerce, Florham Park


Although there are some recent signs that home prices in the state are starting to firm, nevertheless, the housing crisis continues to take a toll on our homeowners. As of June, 9.3 percent of all mortgage debt in New Jersey was 90-plus days delinquent, three percentage points above the national rate. And that delinquency rate is actually a little higher here in northern New Jersey.

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Bronx

New York City

October 24, 2011
The National and Regional Economic Outlook
Bronx Chamber of Commerce at the New York Botanical Garden



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Stamford

Connecticut

July 2, 2013
The National and Regional Economy
Business Council of Fairfield County

And at the end of October, Superstorm Sandy hit the region, causing major damage and disruption. While most of the news focused on New York City, Long Island and New Jersey, parts of Fairfield and New Haven counties—cities and towns like Bridgeport, Stamford, Milford, and Fairfield—were severely affected as well. Thankfully, Sandy's disruptive effect on the region's economy seems to have been short-lived. Fairfield County did see some job losses during the winter months, and Sandy likely contributed to that. But, in the spring this area saw a strong and broad-based rebound in employment. In fact, in May employment in Fairfield County surged to a more than four-year high.

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San Juan

Puerto Rico

April 1, 2011
The Road to Recovery: Puerto Rico and the Mainland
E-3 Summit of the Americas: Export Trade Basics Forum 101, San Juan, Puerto Rico



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San Juan

Puerto Rico

June 24, 2014
Update on Economic and Fiscal Conditions in Puerto
Remarks to the Association of Certified Public Accountants of Puerto Rico, San Juan, Puerto Rico

The clear challenge going forward will be for the Commonwealth government to continue to make progress on its efforts to raise its economic growth rate while at the same time to take credible steps to constrain the buildup of debt. The demanding choices Puerto Rico makes today will affect its long-run economic prospects and the future livelihood of its residents.

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