Earlier this month, The Federal Reserve Bank of Kansas City launched an initiative called The Center for Agriculture and the Economy to reinforce its research and resources for the ag industry and rural landscape.
“For many years, the Kansas City Fed has provided critical insights into one of the nation’s most vital industries—agriculture,” Jeff Schmid, president and CEO of the Federal Reserve Bank of Kansas City said in the announcement. “The establishment of this center formally recognizes our District’s investment in this area and highlights the vital importance that we place on gathering insights from all of those who have a role in the ag economy.”
The Kansas City Fed conducts regular surveys of farmers, bankers, and other connections in the industry, including:
- monthly Agricultural Finance Updates
- a quarterly Ag Bulletin
- regular in-depth research and updates on ag-related topics
In establishing the Center of Agriculture and the Economy, the KC Fed will continue its existing efforts and will provide timely analysis on developments across the industry.
“It is vitally important to us that we include voices from agriculture, including related industries and rural places, in our work,” Nate Kauffman, senior vice president with the Federal Reserve Bank of Kansas City and executive director of the Center said in the announcement. “Our goal is that the Center for Agriculture and the Economy will reflect this two-way exchange where, in addition to us taking in information, we also produce research and resources that provide value to those connected to agriculture.”
Centrally located in the U.S., of the Tenth District serves seven states: Colorado, Kansas, Nebraska, Oklahoma, Wyoming, northern New Mexico and western Missouri. Across the counties within the KC Fed District, farm income on average represents more than 10% of total income, nearly one-third of the 1,000 commercial agricultural banks are headquartered in the district as well.
For more visit www.kansascityfed.org/center-for-agriculture-and-the-economy
