Every year, CEDA hosts the Economic Forecast Luncheon to provide information about economic and demographic trends locally, as well as on topics and concepts that affect our area’s economic wellbeing. After tackling the economic impact of the arts last year, we are shifting gears to bring the community a more data centric analysis of our economy. This year’s speaker will be Jaison Abel, an Assistant Vice President and Head of the Regional Analysis Function in the Research and Statistics Group at the Federal Reserve Bank of New York. Mr. Abel’s presentation will be titled “Economic Conditions in the Nation and Region,” and will cover an overview of the US economy, regional economic conditions, and the economic outlook.  There will be time available for a question and answer session at the end of his presentation.

About the Federal Reserve Bank of New York: Along with the eleven other Federal Reserve Banks across the country, the Federal Reserve Bank of New York works to “foster the safety, soundness and vitality of our economic and financial systems”. The whole Federal Reserve System is an independent governmental entity and has been around since 1913 to serve as the Central Bank of the US. Today, the Federal Reserve Bank (Fed) of New York is the largest Reserve Bank in terms of assets and activity, despite having the smallest geographic area to cover. The Fed of New York only oversees New York State, twelve counties in New Jersey, one county in Connecticut, Puerto Rico, and the US Virgin Islands. In addition to being the bank of the US Federal Government, the Fed System is responsible for various tasks related to the US economy, including activities around monetary policy, supervising and regulating financial institutions, and promoting community development and reinvestment. In addition to these System responsibilities, the Fed of New York also has its own unique operations, including intervening in foreign exchange markets and storing gold. To learn more about the Federal Reserve Bank of New York, you can visit their website at www.newyorkfed.org.

More about Jaison Abel: Mr. Abel serves on the Federal Reserve System Committee on Regional Analysis. His primary research interests are in the fields of urban and regional economics, industrial organization, the economics of innovation, and public finance. His work has been published in leading academic journals and featured by a number of prominent media outlets, including The Economist, The New York Times, USA Today, and The Wall Street Journal. He holds a Ph.D. in economics from The Ohio State University and a bachelor’s degree in economics from the State University of New York at Geneseo.

The 2020 Economic Forecast Luncheon will be held at the Holiday Inn, Auburn.  Doors open at 11:30 a.m. and the event is expected to conclude by 1:30 p.m.  There is a $40 event fee, which includes a buffet-style lunch.  The luncheon will also include a presentation by CEDA’s Executive Director, Tracy Verrier. CEDA’s 2019 Annual Report highlighting projects and activities over the last year will also be distributed to guests at the luncheon. You may register online by clicking here.

This event is always an excellent way to kick-start the year with valuable insights into our local economy, as well as a chance to connect with fellow business leaders and elected officials in attendance.

Published in the December 19, 2019, edition of The Citizen.