New York Fed

Register for our third annual FX Market Structure Conference. This event will cover a range of topics related to the foreign exchange market, including the current macro environment and its impact on FX trading activity, trends in FX liquidity and price discovery, the future of FX markets and more.
nyfed.org/48Kzcwn

Today, our Center for Microeconomic Data issued its Quarterly Report on Household Debt and Credit. The report shows total household debt increased by $334 billion in Q3 2026, to $19.1 trillion. Learn more: nyfed.org/4eXmJcg

The 12th U.S. Treasury Market Conference, held in September, focused on how to maintain smooth functioning in the Treasury market amid ongoing structural changes. Today's post highlights the three central themes that emerged at the conference: modernization, innovation, and efficiency.

nyfed.org/3WAiQno

Our October 2026 Survey of Consumer Expectations shows that households’ inflation expectations remained unchanged at the short-, medium-, and longer-term horizons. Learn more:
nyfed.org/4zUiuXH

Has U.S. monetary policy actually improved over time? Or was the apparent success of the modern Federal Reserve the result of more favorable economic conditions and better luck? The authors summarize their forthcoming paper, which develops a framework for comparing monetary policy across different economic environments. They ask how close policy came to the best response given the economic conditions and shocks policymakers faced and find that meaningful improvements in monetary policy occurred only in the last thirty years.
nyfed.org/4z2AugZ