At the New York Fed, our mission is to make the U.S. economy stronger and the financial system more stable for all segments of society. We do this by executing monetary policy, providing financial services, supervising banks and conducting research and providing expertise on issues that impact the nation and communities we serve.
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Learn about the history of the New York Fed and central banking in the United States through articles, speeches, photos and video.
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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 New York Innovation Center bridges the worlds of finance, technology, and innovation and generates insights into high-value central bank-related opportunities.
The growing role of nonbank financial institutions, or NBFIs, in U.S. financial markets is a transformational trend with implications for monetary policy and financial stability.
The New York Fed offers the Central Banking Seminar and several specialized courses for central bankers and financial supervisors.
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The Economic Inequality & Equitable Growth hub is a collection of research, analysis and convenings to help better understand economic inequality.
The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
Allan Sproul spent nearly 36 years in the Federal Reserve System, all but 10 of them at the New York Fed. He served as president from January 1941 to June 1956. He was 44 when named president.
A native Californian, Mr. Sproul graduated from the University of California and was awarded a doctor of laws degree from New York University. He joined the Federal Reserve System in 1920 as head of the division of analysis and research of the San Francisco Fed. In 1930, he came to the New York Fed as an assistant deputy governor and secretary, and six years later, when official titles changed, he was appointed first vice president. As one of the leading central bankers in U.S. history, Mr. Sproul made major contributions in solving monetary problems. He was named vice chairman of the Federal Open Market Committee (the System's top monetary policymaking unit) when the New York Fed was given permanent representation on that committee in 1942. In 1956, he resigned from the New York Fed and returned to California to serve as a director of Wells Fargo Bank. He was appointed a director of that banks holding company in 1969. Mr. Sproul also served as a director of Kaiser Aluminum and Chemical Corporation. He died in April 1978. |