lundi 6 avril 2015

Dudley: The National and Regional Economy

I am very pleased to be here at the New Jersey Performing Arts Center (NJPAC) and to have this opportunity to speak with the members of the Business Partners Roundtable. In my remarks, I will provide an update to my national outlook for 2015, as well as discuss economic developments in New Jersey. I will also briefly touch on how monetary policy might evolve should my economic outlook be largely realized over the next year.

My meeting with you today is part of our continuing efforts to understand what is going on at the grassroots level of our economy. We plan these trips so I can meet with a diverse array of stakeholders in the region. This allows me to get a comprehensive picture of economic conditions in the region and a fuller understanding of the major issues and concerns. This is our first regional trip for 2015 and the third time we have visited northern New Jersey in the past four years.

I begin my day here at NJPAC and following this visit, I will take a tour of the Teachers Village, which is a new mixed-use community here in downtown Newark, attend a roundtable lunch meeting with members of the Statewide Hispanic Chamber of Commerce of New Jersey in Union City, and hear about the economic and community development activity in Jersey City from Mayor Steven Fulop. I will then meet with nonprofit small business lenders to hear about lending conditions, and I’ll end the day at Stevens Institute of Technology where I will learn how they have partnered with NBC Universal to create a new minor in media engineering to address a skills gap issue in the region.

These trips are one of the many ways in which we engage with people and businesses in our region. We track the health of household balance sheets at the state and local level using data from the New York Fed’s Consumer Credit Panel. These data show debt bal

Dudley: The National and Regional Economy

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