Kansas City Fed President Jeff Schmid and Omaha Branch Executive Nate Kauffman took part in an Economic Forum on Oct. 15 at the Branch, leading a fireside chat with guests that included local business and community leaders and current and former Reserve Bank directors from around the Tenth District.
Schmid opened the forum by highlighting some of the events that the Tenth District puts on, including the Ag Summit, the Energy Conference, the Jackson Hole Economic Policy Symposium and regular and joint Board of Directors meetings in Kansas City, Denver, Omaha and Oklahoma City. Schmid explained that these events and meetings are vital touchpoints for understanding how different stakeholders are experiencing the economy.
Among the issues that Schmid touched on were monetary policy, inflation, employment, job growth and the state of the Federal Reserve amid political pressure. He explained that the regional structure of the Fed also is important for the conduct of the nation’s monetary policy.
Schmid then took questions, which included concerns about stablecoin, global birth rates, artificial intelligence and how the federal shutdown might be affecting the overall economy.
Schmid also announced the unveiling of the Center for Agriculture and the Economy. The Center will provide insight on the U.S. agricultural economy as well as research on ag-related issues.
“For many years, the Kansas City Fed has provided critical insights into one of the nation’s most vital industries—agriculture,” Schmid said. “The establishment of this center formally recognizes our District’s investment in this area and highlights the vital importance that we place on gathering insights from all of those who have a role in the ag economy.”