Read a statement from our President and CEO Esther George on COVID-19 and the Kansas City Fed.
We have compiled the following resources to help you better understand the economic effects of the coronavirus and provide tools to help you and your community during this extraordinary time.
FAQ on Federal Coronavirus Relief Law (The Tax Foundation)
Financial Tips from the Atlanta Fed: Uncertain Times (Atlanta Fed)
Health versus Wealth: On the Distributional Effects of Controlling a Pandemic (Minneapolis Fed and Kansas City Fed)
COVID-19 and Households’ Financial Distress
Part 1: Employment Vulnerability and (Financial) Pre-Existing Conditions (Kansas City, St. Louis and Richmond Feds)
Part 2: The Spread of COVID-19 and (Financial) Pre-Existing Conditions (Kansas City, St. Louis and Richmond Feds)
Part 3: How Will COVID-19 Affect the Spending of the Financially Distressed? (Kansas City, St. Louis and Richmond Feds)
Part 4: How Exposed Are Financially Distressed Households to Income Loss? (Kansas City, St. Louis and Richmond Feds)
May 06, 2020
COVID-19 has led to numerous closures at meatpacking and food processing facilities. In the United States, more than 120 meatpacking and processed food plants have confirmed cases of COVID-19. Of plants with confirmed cases, nearly half have closed temporarily or limited operations. Closures and slowdowns at beef and pork packing plants have reduced U.S. daily meat production by as much as 40 percent. Although plants are beginning to reopen, most are not running at full capacity due to absenteeism, fewer shifts, or reworking shifts to allow for better social distancing.
May 07, 2020
Closures in the meat packing industry have led to notable reductions in plant capacity utilization. As plants idled or limited operations, daily cattle and hog slaughter fell by as much as 45%. Despite some meatpacking plants beginning to reopen, beef and pork plants are still only running at about 60% capacity relative to pre-pandemic levels.
May 08, 2020
Meat production has dropped considerably alongside plant closures and reduced capacity. In the first quarter of 2020, beef and pork slaughter was consistently above 2019 levels. However, following the emergence of COVID-19 in the United States, closures and slowdowns at packing plants in April contributed to a 40% reduction in daily beef and cattle slaughter compared to the previous year. As plants reopen, and modify operations, it will be important to track actual production together with pre-pandemic capacity as the revised processes could affect plant productivity.
May 08, 2020
Compounding the challenges of maintaining U.S. meat supply chains with COVID-19 concerns at packing plants, consumers have shifted purchases of food from foodservice to retail outlets. For example, foot traffic at supermarkets was roughly double that of restaurants in March and April 2020, whereas in 2019, foot traffic at supermarkets was equal to foot traffic at restaurants. The combined supply chain disruptions have put tremendous pressure on wholesale meat prices. In fact, prices for choice boxed beef cutouts and pork carcass cutouts rose more than 80% and 100%, respectively, in the month of April.
Educators and families are invited to use the following free resources for online learning and homeschooling activities.
Core Concept Cards
Use these interactive vocabulary flashcards and accompanying activities to help high schoolers develop an economic way of thinking.
Currency and Coin Videos
These videos give students a glimpse into the Federal Reserve's cash processing functions.
After reading these short e-books with your kids, use the printout coloring pages and activities to reinforce financial concepts.
Jay Starts a Biz
This online adventure features Jay Eagle as he flies into entrepreneurship and brings kids along to help start a business.
The Fed and You Video
This video helps students better understand their role in the economy.
Your Central Bank Video
This short video introduces younger kids to the Federal Reserve and how the economy works.
Find video testimonials of real-life entrepreneurs and ideas for books about entrepreneurship for all ages.
Building Wealth (Dallas Fed)
In an online format, students can learn important life skills like setting financial goals, budgeting, saving, investing, building credit, managing debt and protecting wealth.
Chair the Fed (San Francisco Fed)
Explore first hand how the fluctuation of interest rates affects the economy with this game.
Classroom Economist (Atlanta Fed)
These short animated videos help to simplify concepts related to economics and the role of the Federal Reserve.
DataPost (San Francisco Fed)
View high-level explanations of how the economy works on a global scale, directly from economists.
Escape from Barter Islands (Cleveland Fed)
In this game players must help Robbie, who’s stranded on the Barter Islands, purchase a sail for his boat and return home by trading other goods.
FRED (St. Louis Fed)
Tools for Teaching with FRED incorporates tutorials, instructional guides, lesson plans and activities with FRED, the St. Louis Fed's "Federal Reserve Economic Data" website.
Invest in What's Next (Richmond Fed)
Let your students learn about potential career paths and create a customized plan for their future.
The Federal Reserve and You 2.0 (Philadelphia Fed)
Designed with classroom flexibility in mind, teachers can use individual segments of this video for virtual learning.