Most of the land that went into the land-grant system for funding universities once belonged to Native American tribes, many of which signed treaties guaranteeing education for their members.
Chris Stoddard remembers her dismay when she heard a speaker talk about that at a 2017 Center for Indian Country Development conference at the Minneapolis Fed.
“That really resonated with me both because I work at a land-grant college and that’s the group that is most underserved in our state,” Stoddard said.
The sad irony? Stoddard presented data at that very conference showing Native Americans losing ground academically relative to other racial and ethnic groups.
The combination of history and current events inspired a research project looking at ways to make higher education more accessible to Native Americans, specifically with less complicated financial aid requirements and with more tribal colleges closer to students’ reservations.
- In COVID-19 pandemic, foreign debt amplifies cost of life-saving shutdowns Crisis also raises risk of prolonged, severe debt crises for emerging markets Targeted debt relief dampens debt crisis, allows lockdowns to save more lives
Summer is synonymous with vacation and increased consumer activity as people travel for leisure. The Minneapolis Fed pays close attention to tourism trends in the Ninth District, and one source of data comes from an unlikely place: a bridge.
The Mackinac Bridge connects Michigan’s Upper Peninsula to the more populous Lower Peninsula, and many people from farther south like to vacation in the U.P., particularly during warmer months. So it’s an interesting gauge of consumer activity.
- Second-round survey finds business effects, job losses are top impacts Most respondents say business and job impacts are worse since first survey Nearly half say return to pre-pandemic conditions will take at least 12 months
- A visitor receives a friendly greeting at the front desk of Prepare + Prosper, a nonprofit organization that provides holistic financial-wellness services, including free tax preparation and financial mentoring. Image courtesy of Prepare + Prosper
How costly will rising temperature due to climate change be for the U.S. economy? Recent research has used the well-identified response of output to weather to estimate this cost. But agents may adapt to the new climate. We propose a methodology to infer adaptation technology from the heterogeneous responses of output to weather observed currently across the U.S. Our model estimates how much each region has adapted already, and can predict how much each will adapt further after climate change. The size and distribution of losses from climate change vary substantially once adaptation is taken into account.
- Black and Hispanic homeowners face property tax assessment rates 10 to 13 percent higher than nonminority homeowners in same tax jurisdiction Faulty valuation of amenities causes part of the gap; difference in assessment appeals accounts for much of the rest Linking assessment growth to local-level housing price indexes would significantly reduce the assessment gap
Loan data suggest that homeowner households are paying non-housing-related debt obligations before making their mortgage payments during the COVID-19 pandemic.
The mortgage delinquency rate in the Ninth Federal Reserve District1 hovered steadily around 3 percent for most of 2018, 2019, and the first quarter of 2020. Then, in April 2020, approximately 30,000 more mortgages became delinquent, increasing the overall mortgage delinquency rate by about 1.7 percentage points to 4.7 percent.2 In May 2020, the delinquency rate rose further, to 5.8 percent, reflecting about 20,000 additional mortgages that became delinquent. This is the highest mortgage delinquency rate many communities have faced since 2010.3
By contrast, delinquency rates for consumers’ credit cards and automobile loans were either stable or declined slightly through April and May. Notably, credit card usage decreased relative to consumers’ credit limits, suggesting that consumers were not...
President Neel Kashkari smiles with students from Lundstrum Performing Arts Center after they performed the opening number from “Hamilton” at the Minneapolis Fed. Also in the audience were three cast members from the musical: Ta’Rea Campbell, Marcus Choi, and Kyle Scatliffe—who play Angelica Schuyler, George Washington, and Thomas Jefferson, respectively.
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When I moved to the Federal Reserve’s Ninth District, which spans an area from Michigan’s Upper Peninsula to Montana, I was struck by a disturbing paradox.
The diversity and strength of our economy are inspiring. We have a well-educated, high-performing workforce and, on average, low unemployment. Our labor force participation ranks high. Our poverty rate ranks low.
But for all its successes, the benefits of our strong economy are not experienced by all of our citizens. We have some of the nation’s worst economic disparities. The difference in median annual household income between whites and African Americans is stark. In Minnesota, the region’s most populous state, the gap is nearly $36,000.
Poverty is prevalent—and gaps are large—among this district’s whites as well. In over half of our counties, 10 percent or more of the white population lives below the federal poverty line. Pockets of white poverty blemish rural areas in all of our district’s...
Research across scientific fields continues to identify the huge role our earliest experiences play in shaping the skills and traits we use to navigate the rest of our lives. Findings in neuroscience and child development dovetail remarkably well with economic research revealing a substantial return on public investments in high-quality programs that support young children and their families—especially families with low incomes. Such programs may include preschool, early health and nutrition programs, and home visiting programs.
Early care and education (ECE), which is aimed at children age five or younger, has received increased attention due to a particularly robust body of evidence on the efficacy of well-structured programs. ECE is most often available through private child care providers that are primarily funded through parents’ tuition payments, but also includes a variety of public and nonprofit providers. High-quality child care supports children’s...
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