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.
Between 1969 and 1999, the New York-New Jersey region experienced a steeper drop in manufacturing employment than any other area of the United States. Much of the unusually sharp job decline can be attributed to the geographic dispersion of manufacturingthat is, the gradual movement of manufacturing activity from the more urbanized and industry-intensive states of the Northeast to the less industrially developed states of the South and West.