Review of Research Department Activities and Accomplishments

The principal objectives of the Research Department are (1) to provide research support for the monetary, financial and regulatory decisions taken by the Bank's president and directors, (2) to analyze international, national and regional economic issues so as to provide information to interested parties in the Fourth District and elsewhere, (3) to increase understanding of and support for Federal Reserve policy decisions and actions, and to enhance the reputation of the department and its members as professional economists. To accomplish these objectives, the department conducts research, holds conferences, prepares speeches for the bank's president, makes public presentations, briefs the president in advance of meetings of the Federal Open Market Committee and provides support for the president and other officers serving on system committees. The department publishes a monthly statistical bulletin with commentary, Economic Trends, a bi-weekly report on topics of interest to business, labor, and the educated public, Economic Commentary, and a quarterly known as Economic Review. In addition, most department members engage in many of the standard activities of a research professional such as giving lectures, participating in conferences, preparing working papers and publishing research results in scholarly journals.