Speech

Resilience

December 15, 2025

John C. Williams, President and Chief Executive Officer

Remarks at the New Jersey Bankers Association, Jersey City, New Jersey As prepared for delivery

Introduction

Good morning, everyone. It's great to be here at the Liberty Science Center, home of the largest planetarium in the Western Hemisphere. Typically, this would be the perfect opportunity for me to discuss the star variables in economics. Alas, I'll save that for the Q&A.

Instead, I'm going to talk to you today about the U.S. economy and how the Federal Reserve is working to achieve its dual mandate of maximum employment and price stability. I'll also discuss recent actions by the Federal Open Market Committee (FOMC), and I'll give my economic outlook.

Before I go further, I must give the standard Fed disclaimer that the views I express today are mine alone and do not necessarily reflect those of the FOMC or others in the Federal Reserve System.

Turning the Corner

One of the important parts of my job is to travel throughout the Federal Reserve's Second District. It gives me the opportunity to meet with business, community, and government leaders and get a firsthand and in-depth look at the challenges and opportunities facing our region.