Federal Reserve Vice Chair Jefferson discusses discount window modernization at Treasury Market Conference

Sue Hill: Head of Government Liquidity Group and Senior Portfolio Manager at Federated Hermes. She participated as a speaker at the 2026 U.S. Treasury Market Conference. Jill Funk: Managing Director of Treasury and Chief Investment Office at J.P. Morgan. She participated as a speaker at the 2026 U.S. Treasury Market Conference. Adam Nunes: Head of Risk at Hudson River Trading. He participated as a speaker at the 2026 U.S. Treasury Market Conference. Brian Smith: Deputy Assistant Secretary for Federal Finance at the U.S. Department of the Treasury. He participated as a speaker at the 2026 U.S. Treasury Market Conference. Gerald Pucci: Managing Director in the Office of the CIO at BlackRock. He participated as a speaker at the 2026 U.S. Treasury Market Conference. Nadine Chakar: Managing Director and Global Head of DTCC Digital Assets at DTCC. She participated as a speaker at the 2026 U.S. Treasury Market Conference focused on Treasury market developments. Nate Wuerffel: Global Head of Market Structure and Head of Product, Global Collateral at BNY. He participated as a speaker at the 2026 U.S. Treasury Market Conference. Andrew Weinman: Chief Operations Officer at BrokerTec Americas. He participated as a speaker at the 2026 U.S. Treasury Market Conference. Francis Brooke: Deputy Secretary of the Treasury at the U.S. Department of the Treasury. He participated as a speaker at the 2026 U.S. Treasury Market Conference alongside Federal Reserve Vice Chair Jefferson. Gordon Y. Liao: Chief Economist and Head of Research at Circle. He participated as a speaker at the 2026 U.S. Treasury Market Conference. Walter Hessert: Head of Strategy at Paxos. He participated as a speaker at the 2026 U.S. Treasury Market Conference. Corey Friedberg: Global Head of Fixed Income Financing at Millennium. She participated as a speaker at the 2026 U.S. Treasury Market Conference. Elisabeth Kirby: Head of Market Structure at Tradeweb. She participated as a speaker at the 2026 U.S. Treasury Market Conference. Frank Gutierrez: Head of Portfolio Management & Trading at BNY Investments Dreyfus. He participated as a speaker at the 2026 U.S. Treasury Market Conference. Gabe Sciannella: Head of 1st Line Clearing Risk at Marex. He participated as a speaker at the 2026 U.S. Treasury Market Conference. Philip N. Jefferson: Vice Chair of the Board of Governors of the Federal Reserve System, a position he has held since September 2023 after joining the Board in 2022. He previously served as vice president for academic affairs and dean of faculty at Davidson College and chaired the economics department at Swarthmore College. He delivered the keynote speech at the 2026 U.S. Treasury Market Conference on discount window modernization and its implications for Treasury market functioning. Elizabeth Fitzgerald: Assistant Director in the Office of Clearance and Settlement at the U.S. Securities and Exchange Commission. She participated as a speaker at the 2026 U.S. Treasury Market Conference. G. Hunter McMaster II: Assistant Secretary for Financial Markets at the U.S. Department of the Treasury. He participated as a speaker at the 2026 U.S. Treasury Market Conference. Federal Reserve System: The central banking system of the United States, responsible for conducting monetary policy, supervising and regulating banks, and maintaining financial stability. It operates through the Board of Governors and twelve regional Federal Reserve Banks. The System is central to the news as the host of the 2026 U.S. Treasury Market Conference and the focus of Vice Chair Jefferson's remarks on discount window modernization. Conference Focus: The annual U.S. Treasury Market Conference examines ongoing developments in the Treasury market, bringing together representatives from the Treasury Department, Federal Reserve, SEC, CFTC, and private sector participants. Discount Window Role: The Federal Reserve's discount window provides liquidity to banks, primarily through primary credit on a no-questions-asked basis, supporting banking system stability and monetary policy implementation. Treasury Market Importance: The U.S. Treasury market serves as the foundation for pricing risk across asset classes, facilitates capital allocation, and underpins the global financial system as a benchmark and hedging vehicle.