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.
Understanding the New York Fed's Survey of Primary Dealers
Volume 19, Number 6 2013
JEL classification: A10,A23
Ellen Correia Golay,
Steve Friedman, and
The New York Fed’s Survey of Primary Dealers plays a key role in the Federal Reserve’s understanding of market expectations for monetary policy and the economy, providing timely and comprehensive dealer insight into a range of topics. In recent years, the survey has evolved to reflect the changing macroeconomic environment brought about by the financial crisis and by the Fed’s move into new policy tools aimed at adjusting the size and composition of its balance sheet and giving more explicit forward guidance on the path of short-term interest rates. This study offers an in-depth look at the survey and discusses its structure and evolution.