Kelly Edmiston will present “Economic Conditions in the U.S. and Kansas City Region.” The presentation will begin with a discussion of recent output in the U.S. economy and provide a near-term outlook based on publicly available Federal Reserve projections and a consensus of leading forecasters across the country. The discussion will then turn to a detailed discussion of labor market trends and outlook in both the U.S. as a whole and in the Kansas City area specifically.
A number of interesting trends are shaping the labor market outlook, and several of these are rather unique to the recent recession, aptly termed the “Great Recession” by many, and its anemic recovery. The unemployment rate will be discussed, but also the inability of the headline unemployment rate to fully capture the state of the labor market. Alternative indicators will then be presented that Edmiston argues provide a more complete labor market picture.
Consumer spending and credit patterns and the residential housing market have been key drivers in recent U.S. and Kansas City economic trends. These sectors will receive special attention, including the critical role these sectors play in the longer-term outlook. Agriculture and energy will also be discussed in some detail, not only because of the importance of these sectors to the work of NIBA members, but also because these sectors experienced very different growth patterns over the course of the “Great Recession” and its anemic recovery.
A significant amount of time will be allotted for questions and answers and audience participation in the discussion.
CONTACT INFO
Kelly Edmiston
Sr. Economist, Federal Reserve Bank, KC, MO
kelly.edmiston@kc.frb.org
