Source: Federal Reserve Bank Of Kansas City news release
KANSAS CITY, Mo. – The Federal Reserve Bank of Kansas City today announced the launch of the Center for Agriculture and the Economy. This initiative underscores the Bank’s ongoing commitment to including perspectives from agriculture and rural areas in discussions on the national economy.
“For many years, the Kansas City Fed has provided critical insights into one of the nation’s most vital industries–agriculture,” said Jeff Schmid, president and CEO of the Federal Reserve Bank of Kansas City. “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.”
Through its regular surveys, analysis and connections across the industry, the Kansas City Fed has had a longstanding focus on the U.S. and global agricultural economy. Leveraging this expertise, the Center will serve as a resource within the Federal Reserve System by providing timely analysis of industry developments and conducting ongoing research on the agricultural economy and the rural regions where production predominates.
The Center will also continue the Kansas City Fed’s efforts to engage directly with ag producers and industry leaders, gathering firsthand insights that lead to a deeper understanding of emerging developments and trends. These perspectives provide critical context for Federal Reserve policymakers and senior officials as they evaluate economic conditions and determine monetary policy.
“It is vitally important to us that we include voices from agriculture, including related industries and rural places, in our work,” said Nate Kauffman, senior vice president with the Federal Reserve Bank of Kansas City and executive director of the Center. “Our goal is that the Center for Agriculture and the Economy will reflect this two-way exchange where, in addition to us taking in information, we also produce research and resources that provide value to those connected to agriculture.”
Agriculture is central to the Tenth District’s economy, from farm production and food manufacturing to agricultural banking and finance, and the Kansas City Fed serves a predominantly rural region in the middle of the country. Research from the Center will provide insights on the U.S. agricultural economy, including monthly Agricultural Finance Updates, a quarterly Ag Bulletin and regular in-depth research and updates on ag-related topics.
For more information about the Center for Agriculture and the Economy visit, www.kansascityfed.org/center-for-agriculture-and-the-economy.
As the regional headquarters of the nation’s central bank, the Kansas City Fed and its branch offices in Denver, Oklahoma City and Omaha serve the seven states of the Tenth District: Colorado, Kansas, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri.
