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.
An analysis of employment and income trends suggests that the economic impact of the September11 attack on NewYorkCity was somewhat less severe than originally thought. The attack created sizable job and income losses, but the citys current downturn appears to stem largely from other, cyclical factorsnamely, the national economy and the financial markets.