of living and housing availability are still predominant concerns, among others. the entertainment, arts, businesses, culture, and landmarks that we have here in new york cannot be replicated elsewhere. but those experiences can only be had if there are jobs and a healthy economy to support it all. it's important that we invest in the study of the challenges and opportunities for employment in this city, so that we can build the future. our conference today will do just that. in our sessions this morning, we'll talk about how employment was and continues to be impacted by shifts in the city. and we'll discuss similarities and distinctions across industries and occupations, initiatives that will attract and retain a robust workforce, and more. thanks again to our speakers and panelists for the knowledge and insight they bring to this event, and to all of you for attending and demonstrating your commitment to shaping the future of this great city. 2 / 3 bis - central bankers'speeches 1 jaison r. abel, jason bram, and richard deitz, " new york fed surveys : business activity in the region sees historic plunge in april, " federal reserve bank of new york liberty street economics, april 16, 2020. 2 jaison r. abel, jason bram, richard deitz, and jonathan hastings, " the region is struggling to recover from the pandemic recession, " federal reserve bank of new york liberty street economics, december 17, 2021. 3 / 3 bis - central bankers'speeches

john c williams : new york city is alive remarks by mr john c williams, president and chief executive officer of the federal reserve bank of new york, at the " future of new york city : focus on jobs " conference, organised by the federal reserve bank of new york, new york city, 4 october 2024. * * * as prepared for delivery good morning. let me welcome you to the federal reserve bank of new york and to our second future of new york city conference. and thank you to the speakers, participants, and organizers who make this such a valuable forum. this year we are celebrating the centennial of this landmark building here at 33 liberty street. we are proud of our history as a downtown anchor institution and look forward to the next 100 years. before i go further, let me give the standard fed disclaimer that the views i express today are mine alone and do not necessarily reflect those of the federal open market committee ( fomc ) or others in the federal reserve system. it was not too long ago - a little over four years back - when some predicted that the future of new york city was quite bleak. others even went as far to declare that new york city is dead forever. well, that forecast didn't age well. i imagine those of you sitting right here in this auditorium would agree with me. just to get here this morning, you likely had to catch a ride on a crowded subway, train, bus, or ferry. or maybe you were brave enough to drive over a bridge or through a tunnel and then search for parking. perhaps you stood in a long line waiting for coffee or a pastry, or dodged tourists taking a photo right in the middle of the sidewalk. i won't even mention the e - scooters and bikes. and it's only 9 : 00 a. m. that's because new york city is again one of the most alive cities on earth. in truth, that 2020 forecast was based on the reality during that moment in time, at least economically speaking. new york city was the epicenter of the pandemic in the u. s., and our region was hit especially hard. according to new york fed business surveys, business activity plunged to historic lows in april 2020, as fear of contagion kept many people at home and efforts to stop the spread of the virus shutdown large parts of the regional economy. 1 about 60 percent of service - based businesses and more than half