• RT @MplsFedComDev: TOMORROW, 8/4: @MplsFedComDev Economist @RobGrunewald takes our #ECE message to the airwaves when he guests on a #childc…
    Minneapolis Fed Mon 03 Aug 2020 21:35
  • For All, a magazine from the #MinneapolisFed’s Opportunity & Inclusive Growth Institute, includes spotlights of scholars, their research, and work. See a recent scholar spotlight featuring Professor Chris Stoddard from @montanastate Link
    Minneapolis Fed Mon 03 Aug 2020 21:05

    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.

  • As pandemic evolves globally, emerging markets w/chronic debt will suffer more deaths & longer debt crises, while targeted debt relief dampens crisis and allows lockdowns to save more lives, explains Doug Clement in write-up of research by @cristinarellano Link
    Minneapolis Fed Mon 03 Aug 2020 17:05
    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
  • Data show tourism traffic on Mackinac Bridge, while slightly below 2019 numbers, is approaching normal traffic, writes #MinneapolisFed Regional Outreach Director @RonWirtz. Link https://t.co/cjXvXutGpL
    Minneapolis Fed Mon 03 Aug 2020 16:05

    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.

  • Recent survey from Fed community development found that over half of Ninth District respondents indicated #COVID19 was a significant economic disruption and they expect a difficult recovery. Link
    Minneapolis Fed Mon 03 Aug 2020 15:05
    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
  • RT @FedIndianCenter: Register now for our Ask the Fed on tribal enterprise participation in the Main Street Lending Program! Submit questio…
    Minneapolis Fed Mon 03 Aug 2020 15:00
  • We are hiring a writer to work with the Opportunity & Inclusive Growth Institute! This position provides the chance to support the Institute in its research, policy work, and mission. For full job description and to apply: Link #OIGI
    Minneapolis Fed Mon 03 Aug 2020 14:35
  • Ben Horowitz, w/@MplsFedComDev spoke w/Tracy Fischman from @PrepareProsper recently. She shares how the organization has adapted during pandemic, how employers can support employee financial wellness, & what are implications for public policy after COVID. Link
    Minneapolis Fed Mon 03 Aug 2020 14:05
    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
  • Adaptation and the Cost of Rising Temperature for the #USEconomy. Recent System working paper by @FrancoisGourio (@ChicagoFed) and Charles Fries available on our website: Link
    Minneapolis Fed Mon 03 Aug 2020 13:05

    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.

  • Minority homeowners face higher tax assessments than Whites, writes Doug Clement, citing work from a recent #OIGI working paper by visiting scholar Troup Howard. However, there is an easy fix. Link
    Minneapolis Fed Mon 03 Aug 2020 01:04
    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
  • Recent loan data suggest that homeowner households are paying other debt obligations before making mortgage payments during #COVID19 pandemic, share @MplsFedComDev’s @kykimeng and Ben Horowitz Link
    Minneapolis Fed Mon 03 Aug 2020 00:04

    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...

  • RT @FaceTheNation: NEWS: @MinneapolisFed's @neelkashkari tells @JDickerson one bright spot in this week’s #GDP report is the personal savin…
    Minneapolis Fed Sun 02 Aug 2020 17:29
  • RT @FaceTheNation: NEWS: @neelkashkari says #unemployment insurance, which for some pays Americans more than past jobs, is solid fiscal pol…
    Minneapolis Fed Sun 02 Aug 2020 17:19
  • “Until we have that real evidence that it’s safe, we’re not going to have a meaningful economic recovery.” -@neelkashkari this morning with @jdickerson on @FaceTheNation.
    Minneapolis Fed Sun 02 Aug 2020 15:14
  • Alexander #Hamilton and the Central Bank. There’s more to the story. Link
    Minneapolis Fed Sun 02 Aug 2020 15:04

    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.

  • Scholar spotlights in the upcoming issue of For All magazine include @MilenaAlmagro, @KristaRuffini, and @tacraigie. They share their research of gentrification, minimum wage, and criminal justice. Subscribe today: Link
    Minneapolis Fed Sun 02 Aug 2020 14:04
  • #MinneapolisFed President @neelkashkari will be appearing this morning on @FaceTheNation. Show airs 9:30-10:30AM CT on CBS. ? Link
    Minneapolis Fed Sun 02 Aug 2020 13:59

    You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

  • Tune in to @FaceTheNation this Sunday to see #MinneapolisFed President @neelkashkari's appearance. Show airs 9:30-10:30AM CT on CBS.
    Minneapolis Fed Sun 02 Aug 2020 01:43
  • We provide up-to-date information, research, and news to our email subscribers. Stay on top of the latest from the #MinneapolisFed and subscribe today: Link
    Minneapolis Fed Sat 01 Aug 2020 22:03
  • We are hiring a writer to work with the Opportunity & Inclusive Growth Institute! This position provides the chance to support the Institute in its research, policy work, and mission. For full job description and to apply: Link #OIGI
    Minneapolis Fed Sat 01 Aug 2020 16:33
  • In the March issue of For All, a magazine from the #MinneapolisFed’s Opportunity & Inclusive Growth Institute, @neelkashkari addressed the need for research of and remedies for inequality and barriers to economic opportunity. Link
    Minneapolis Fed Sat 01 Aug 2020 15:13

    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...

  • Introducing “What works in supporting early care and education” – an article series from @MplsFedComDev that highlights effective ways to increase the supply of high-quality early care and #education (ECE). Link
    Minneapolis Fed Sat 01 Aug 2020 13:03

    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...

  • RT @reinvestfund: #CDFIs have been working in the early care & education #ECE sector for several years & will continue to do so during & af…
    Minneapolis Fed Sat 01 Aug 2020 13:03
  • Tune in to @FaceTheNation this Sunday to see #MinneapolisFed President @neelkashkari's appearance. Show airs 9:30-10:30AM CT on CBS.
    Minneapolis Fed Sat 01 Aug 2020 00:02
  • RT @MplsFedComDev: Rental guarantees—insurance-like products that reimburse landlords' losses if tenants don’t work out—can expand #housing…
    Minneapolis Fed Fri 31 Jul 2020 23:27
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