Fed Creates Center For Ag And Economy

Fed Creates Center For Ag And Economy The newly formed Center for Agriculture and the Economy in Kansas City, Kan., aims to include perspectives from agriculture and rural areas in discussions about the national economy. “The Center’s creation is rooted in a longstanding focus on U.S. and global agriculture at the Kansas City Fed,” says Nate Kauffman, Senior Vice President and Executive Director of the Center for Agriculture and the Economy at the Federal Reserve Bank of Kansas City. “Agriculture is central to the economy of our seven-state region in the middle of the country. Farm income on average represents more than 10% of total income across the counties of our District and is similarly prevalent in neighboring regions.” The Center serves as a resource for the Federal Reserve System. “We provide insights on the U.S. agricultural economy, including updates on finance and the crop and livestock sectors, as well as regular in-depth research and updates on ag-related topics, such as food prices and labor,” Kauffman says. “Center contributors also host events and engage with producers and industry professionals across our District and nationally, often partnering with other Federal Reserve Banks.”  It aims to conduct regular surveys and analyses across the agricultural economy. This provides critical context for Federal Reserve policymakers as they evaluate economic conditions for new policy. “Leveraging an existing area of focus, the Federal Reserve Bank of Kansas City formally established the Center for Agriculture and the Economy to underscore our commitment to including perspectives from agriculture and rural areas in national economic conversations,” Kauffman says. “We aim to foster a two-way exchange: listening to producers and industry leaders while producing research that serves their needs.” He notes that agricultural lending is also a priority. “A third of the nearly 1,000 commercial agricultural banks are headquartered in our District,” Kauffman says. “For decades, the Kansas City Fed has been dedicated to understanding topics relevant to the agricultural sector.” In this way, the Center aims to provide timely, relevant insights to the sector, helping producers and stakeholders stay informed about economic trends and financial conditions. Kauffman explains, “We serve as a link between agriculture and the Federal Reserve, ensuring that voices from the sector, as well as the rural areas where production is concentrated, are included in national economic conversations.”  A series of videos about the Center, featuring comments from Kauffman and other Center contributors, is available on YouTube (https://www.youtube.com/playlist?list=PLRuFDlAZCtQ28HuDwCpyuA_gX6h0Qw2se). Contact: FARM SHOW Followup, Center for Agriculture and the Economy; Kansas City, Kan. (www.kansascityfed.org/center-for-agriculture-and-the-economy).

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