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Minneapolis Federal Reserve Bank President to Speak at UMD

Posted at: 10/29/2012 7:45 PM

nullIt's not an opportunity Duluth gets all the time. A leader with the Federal Reserve Bank spoke to reporters at the Labovitz School of Business and Economics at the University of Minnesota-Duluth Monday afternoon, prior to meeting with area businesses and community leaders.

Dr. Narayana Kocherlakota is the President of the Federal Reserve Bank of Minneapolis. Tuesday, he's speaking with dozens of people to get a feel for the state of the economy in the area.

Kocherlakota told Eyewitness News he wants to know whether businesses are planning to hire in 2013, and about how community leaders feel about the health of the housing market.

Kocherlakota said, "if you start to hear the same thing from Duluth, and from various parts of the Twin Cities, then across the nation, it starts to tell you something about the economy as a whole."

At a news conference Monday afternoon, Kocherlakota stressed the importance having an open dialogue with citizens. After meeting with the community, he'll then bring information about the local economy to Washington D.C., to help forecast what's going to happen with the economy in the coming year.

Tuesday, Kocherlakota will hold a town hall meeting at UMD's Weber Hall. That's happening at 7 p.m. Call 218-726-8730 for reservations.