NEW YORK—On May 22, 2025, the Federal Reserve Bank of New York and Columbia University’s School of International and Public Affairs (SIPA) will jointly host “Monetary Policy Implementation Workshop: Unwinding Large Central Bank Balance Sheets,” a conference bringing together academics, industry, and central bankers to discuss how central banks are navigating monetary policy implementation in the post-pandemic period.
The program will focus on the macroeconomic impact of central bank balance sheets, differences in monetary policy implementation frameworks around the globe, and the transition to steady-state operations after balance sheet unwinding is complete.
New York Fed President John C. Williams will deliver keynote remarks and participate in a moderated discussion with Petra Tschudin, member of the Governing Board of the Swiss National Bank.
This event is open to press in-person and via livestream. The keynote remarks and moderated discussion with President Williams and the prepared remarks by Roberto Perli at the start of the panel on monetary policy implementation around the world will be on the record. The Chatham House Rule will be in effect for all other parts of the workshop, meaning media may report broadly on comments made during the event but may not attribute remarks to individuals or organizations.
Reporters who wish to attend either in-person or virtually must register by contacting Shelley Pitterson at the New York Fed at Shelley.Pitterson@ny.frb.org. For more information, see the event page.
