Federal Reserve discusses rural economy at 2026 conference

by@federalreserve

Summary

On September 30, 2026, Governor Cook delivered a speech at the 2026 Investing in Rural America Conference, focusing on the economic outlook and challenges faced by rural communities. This year’s conference is notable for being the first with a national scope, involving all 12 Reserve Banks and the Board of Governors, which emphasizes the Federal Reserve's commitment to understanding rural economic vitality. Cook highlighted that rural areas play a crucial role in the U.S. economy, providing essential resources and employing millions in small businesses. As part of the Federal Reserve's dual mandate, he stressed the need to address employment and inflation challenges in these regions, particularly as inflation remains elevated against the backdrop of rising housing costs and energy prices impacting rural households.

Analysis

Lisa Cook: Lisa Cook is a member of the Board of Governors of the Federal Reserve System, serving as a Governor with expertise in economics, innovation, and entrepreneurship. She delivered the keynote remarks at the 2026 Investing in Rural America Conference, drawing on her personal rural background to discuss the dual mandate's implications for rural labor markets, inflation, and small businesses. Cook also serves on the Board's Committee on Consumer and Community Affairs. President Barkin: Thomas Barkin serves as President and CEO of the Federal Reserve Bank of Richmond, overseeing its operations and economic analysis for the Fifth District. He provided the introduction for Governor Cook's speech at the 2026 Investing in Rural America Conference hosted by his institution. Barkin leads efforts including regional research on rural economies and community development. Federal Reserve System: The Federal Reserve System is the central banking system of the United States, responsible for conducting monetary policy to achieve maximum employment and stable prices. It comprises the Board of Governors and 12 regional Reserve Banks that collaborate on research, community engagement, and economic outreach. In this news, the System partnered across all 12 banks and the Board to organize the national 2026 Investing in Rural America Conference for the first time. Federal Reserve Bank of Richmond: The Federal Reserve Bank of Richmond is one of the 12 regional Reserve Banks in the Federal Reserve System, serving the Fifth District and focusing on economic research, community development, and monetary policy support. It hosted the 2026 Investing in Rural America Conference in Asheville, North Carolina, and has led related initiatives including post-Hurricane Helene small business research and community investment training programs. The event highlights its role in addressing rural economic vitality. Dual Mandate: The Federal Reserve's dual mandate requires setting policy to achieve maximum employment and stable prices for all Americans, including those in rural communities. Rural Vitality: The Federal Reserve promotes rural community vitality through research, outreach, and engagement activities at the Board and all Reserve Banks to support small businesses and economic health. Conference Scope: The 2026 Investing in Rural America Conference marked the first year with national scope and full partnership across all 12 Reserve Banks and the Board of Governors.

Categories

macropolitics
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