Remarks at the Conference in Memory of John Leahy

This is a memorial tribute, not a policy speech. Boston Fed President Susan Collins honored the late economist John Leahy at a University of Michigan and NYU conference, speaking to his generosity as a colleague and mentor and to research that bridged theory and policymaking. There is no economic outlook, no policy signal, and no rate guidance anywhere in the text. Trade it as a zero: nothing here moves the front end or the curve.

What’s new: Nothing material. The document carries no economic assessment, no policy stance, and no reaction function. The only line touching central banking is a general remark that Leahy's work shaped how economists and central bankers understand the economy, which is biography, not signal.

KEY FINDINGS

• The document contains no reference to the policy rate, inflation, employment, or the economic outlook. No repricing input for the front end or the curve; the speech is non-event risk.
• Collins is a 2025 FOMC voter, so the desk should note she was in the room, but this text gives no hint of where she sits on policy. A voter's silence outside a meeting cycle is neutral information; do not read a dovish or hawkish bias into a eulogy.
• The only substantive content is praise of Leahy's research bridging economic theory and policymaking. Zero market consequence; treat as a non-story.

FROM THE DOCUMENT

Drawing on their decades-long professional relationship, Collins reflected on Leahy’s generosity as a colleague and mentor, as well as his influential research.