The economic climate in the U.P.

EDITOR:

I recently made my first visit to Escanaba. The community welcomed me warmly and shared their experiences as residents and business, civic and tribal leaders. As the Federal Reserve sets monetary policy for the nation, learning about your community’s needs and priorities is vital as I fulfill my obligation to represent our region in Washington, D.C.

The Hannahville tribal leaders I met with, including Chair Kenneth Meshigaud, shared insights on opportunities and challenges facing their community. I am very impressed with their business acumen, governance structure and focus on sustainable, long term economic development and approach to investing in education and human capital.

The economic climate in the U.P. is strong, and community members shared concerns and identified opportunities for growth. Business owners and economic development leaders traveled from across the region to share important information about barriers to work in the U.P., but also an upbeat message about the strength of the local economy and the challenge of finding qualified workers.

As the Federal Reserve strives to be more transparent and inclusive, I want to especially thank Bay College President Dr. Laura Coleman for moderating a wide-ranging town hall forum. The discussion is archived on our website, and you may watch it here https://bit.ly/2IEFLXW. There, you may also sign up to receive news and research on our region’s economy and economic opportunity.

I am committed to highlighting our unique region as part of monetary policy deliberations, and I cannot do that without candid dialogue like that in Escanaba.

Neel Kashkari

President

Federal Reserve Bank of Minneapolis