Verrier: Auburn economic luncheon to feature Fed analyst
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ECONOMIC DEVELOPMENT

Verrier: Auburn economic luncheon to feature Fed analyst

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CEDA luncheon 3

Cayuga Economic Development Agency Executive Director Tracy Verrier speaks about local and regional economic trends during the agency's annual Economic Forecast Luncheon in January 2019.

It is almost the new year, which means the Cayuga Economic Development Agency's Economic Forecast Luncheon is just around the corner!

Every year, CEDA hosts this event to provide information about economic and demographic trends locally, as well as topics and concepts that affect our area’s economic well-being. 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 U.S. 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 11 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 (Fed) system is an independent governmental entity and has been around since 1913 to serve as the central bank of the U.S. Today, the Federal Reserve Bank 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, 12 counties in New Jersey, one county in Connecticut, Puerto Rico and the U.S. Virgin Islands. In addition to being the bank of the U.S. federal government, the Fed system is responsible for various tasks related to the U.S. 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 its website at 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 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 in 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 me. 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 following the link on our homepage, cayugaeda.org.

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.

Tracy Verrier is the executive director of the Cayuga Economic Development Agency. For more information, visit cayugaeda.org, call (315) 252-3500 or stop at the agency's offices at 2 State St., Auburn.

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