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.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
The 2007 slowing in job growth in the NewYork–NewJersey region continued through August 2008. A projected weakening in the national economy through the end of 2008 combined with the market turmoil affecting NewYork City’s finance sector suggests that the region will post substantially smaller job gains this year than it did in 2007. Beyond 2008, continued financial stress could lead to an even sharper and more protracted contraction in the city’s finance sector, potentially spreading to other sectors of the region’s economy.