Speaking of the Economy

For our 150th episode, Anna Kovner reviews her career path to becoming the research director at the Federal Reserve Bank of Richmond and reflects on the work of the Bank's Research department. Kovner also offers her views on various topics — including the banking turmoil of 2023, the Fed's "lender of last resort" role, current risks to the financial system, and the "neutral rate" of interest — as well as the current state of the national economy.

Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2024/speaking_2024_11_20_kovner

Alaina Barca and Surekha Carpenter examine the decline in the number of bank branches in certain communities and the economic effects of that trend. They also share data from the Banking Deserts Dashboard developed for the Fed Communities website. Barca is a community development research analyst at the Philadelphia Fed and Carpenter is a research analyst at the Richmond Fed.

Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2024/speaking_2024_11_13_banking_deserts

Erika Bell and Emily Corcoran discuss the capital needs of small business owners and recent insights yielded by the Federal Reserve's annual Small Business Credit Survey. Bell is community development regional manager for North Carolina and South Carolina and Corcoran is senior manager of regional and community analysis, both at the Richmond Fed.

Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2024/speaking_2024_11_06_small_business_credit

Toan Phan reviews the risks faced by banks from the increased frequency and intensity of floods and other extreme weather events, and how banks and financial markets have responded to those risks. Phan is a senior economist at the Federal Reserve Bank of Richmond.

Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2024/speaking_2024_10_23_banks_flood_risk

Deborah Diamond and Adam Scavette discuss how anchor institutions such as universities and hospitals fit into the economic life of communities. Diamond is director of the Anchor Economy Initiative at the Federal Reserve Bank of Philadelphia and Scavette is a regional economist at the Baltimore office of the Federal Reserve Bank of Richmond.

Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2024/speaking_2024_10_16_anchor_institutions

Anne Davlin discusses the current state of lending to the commercial real estate sector in the Fifth District, including the challenges faced by office building and multiunit housing developers and the ensuing risks posed to their lenders. Davlin is a senior quantitative analyst in the Richmond Fed's Supervision, Regulation and Credit department.

Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2024/speaking_2024_10_09_commercial_real_estate

Tom Barkin, president and CEO of the Federal Reserve Bank of Richmond, looks back on recent economic trends and how they have shaped the current state of the national economy. Topics include return to work, technology adoption and its implications for labor productivity, the surge in new business formation, and the Richmond Fed's current efforts to understand the economy better. (Note: This episode was recorded before the September 2024 FOMC meeting and the August jobs data release.)

Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2024/speaking_2024_09_25_barkin

Pierre-Daniel Sarte and Sonya Waddell share survey results on businesses' use of AI tools and other forms of automation, and research on the potential effects of automation on the nation's overall productivity growth. Sarte is a senior advisor and Waddell is a vice president at the Federal Reserve Bank of Richmond.

Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2024/speaking_2024_09_18_automation

Katarína Borovičková and Claudia Macaluso describe their research on differences in wage growth between workers as they progress in their careers. Borovičková and Macaluso are economists at the Federal Reserve Bank of Richmond.

Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2024/speaking_2024_09_11_career_ladders

Sierra Stoney outlines the factors that have recently driven up premiums for homeowners insurance, adding pricing pressure to housing markets. Stoney is a senior research analyst on the Regional and Community Analysis team at the Richmond Fed.

Full transcript and related links: https://www.richmondfed.org/podcasts/speaking_of_the_economy/2024/speaking_2024_08_21_homeowners_insurance