New members replace outgoing Biden-Harris administration appointees and include Atlanta Fed President & CEO Raphael Bostic and former U.S. Treasury Secretary Jacob Lew.
Timothy Bartik of the W.E. UpJohn Institute argues that large and persistent differences in employment rates across U.S. places highlight the need for local economic development policies to better promote cost-effective job creation in distressed areas.
A national debate about the strength and fairness of American capitalism is taking place against a backdrop of vast levels of income and wealth inequality, growing pessimism about the state of economic opportunity and mobility, increased market concentration in many sectors, and a precarious fiscal situation.
The United States is currently gripped by deep uncertainty and economic anxiety. At the time of this writing, the United States is six months into the COVID-19 pandemic. More than 190,000 Americans have died from COVID (CDC 2020); more than 13 million Americans remain unemployed (Bureau of Labor Statistics 2020); and tens of thousands of businesses remain closed (Grossman 2020). Meanwhile, protests against racial injustice continue across the country, and in a number of tragic instances, they have been overtaken by violence. Wildfires rage through the northern Pacific states. In Oregon, 40,000 people have been evacuated and more than 1,500 square miles have burned. California has already experienced three of the top four largest wildfires in its history in this year alone. Perhaps more than any time in recent memory, the economic future of our country feels uncertain.
DR. RAPHAEL W. BOSTIC is the 15th president and chief executive officer of the Federal Reserve Bank of Atlanta, which serves the Sixth Federal Reserve District covering Alabama, Florida, and Georgia, and parts of Louisiana, Mississippi, and Tennessee. He is responsible for all of the Bank’s activities, including monetary policy, bank supervision and regulation, and […]
GLENN HUBBARD is dean emeritus of Columbia Business School. He is also the Russell L. Carson Professor of Finance and Economics. Hubbard received his B.A. and B.S. degrees summa cum laude from the University of Central Florida, where he received the National Society of Professional Engineers Award. He has been a visiting professor at Harvard […]
NEEL KASHKARI has been president and chief executive officer of the Federal Reserve Bank of Minneapolis since Jan. 1, 2016. He serves as a voting member on the Federal Open Market Committee, bringing the Ninth Federal Reserve District’s perspective to monetary policy discussions in Washington, D.C. In addition to those responsibilities, Neel oversees Minneapolis Fed […]